Sign up to The Irish Times Archive (1859 - 2008)My Account »
Mon 04 Apr 2010Icelandic bank report to slate regulators and ministers
A DAMNING account of Iceland’s failure to protect ordinary depositors – including hundreds of thousands in the UK – who entrusted their savings to online bank Icesave will be published today by a specially convened truth commission, set up in the wake of Iceland’s banking meltdown 18 months ago.
A 2,000-page report into the system-wide financial collapse in October 2008, commissioned by Icelandic MPs, will contain detailed chapters on both the Icesave affair and Iceland’s pitiful depositor guarantee fund. Former ministers and regulators responsible for ensuring deposit guarantees were sufficiently robust are expected to face severe criticism.
Choose a Subscription type - required
