News Sniffer - Revisionista 'Councils seek Iceland cash pledge' diff viewer (0/1)

This article is from 'bbc', was first published or seen on Sun Oct 12 00:12:10 UTC 2008 and has 5 versions.

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Councils seek Iceland cash pledge Sun Oct 12 00:20:43 UTC 2008	Councils seek Iceland cash pledge Sun Oct 12 00:30:49 UTC 2008
Council leaders are to hold talks with the Icelandic ambassador to seek assurances their investments with the country's failed banks will be repaid.	Council leaders are to hold talks with the Icelandic ambassador to seek assurances their investments with the country's failed banks will be repaid.
The Local Government Association will demand taxpayers' money should be a top priority when repayments are made.	The Local Government Association will demand taxpayers' money should be a top priority when repayments are made.
It comes as talks continue between the Treasury and the Icelandic authorities in Reykjavik over frozen UK deposits held in the collapsed banks.	It comes as talks continue between the Treasury and the Icelandic authorities in Reykjavik over frozen UK deposits held in the collapsed banks.
About 100 councils in England, Scotland and Wales have deposits worth £842.5m.	About 100 councils in England, Scotland and Wales have deposits worth £842.5m.
The Local Government Association (LGA), which represents councils in England and Wales, said the meeting with the Icelandic ambassador would take place next week.	The Local Government Association (LGA), which represents councils in England and Wales, said the meeting with the Icelandic ambassador would take place next week.
It says that if it failed to win the assurances it seeks, it will take its case directly to the Icelandic government.	It says that if it failed to win the assurances it seeks, it will take its case directly to the Icelandic government.
The LGA said some 108 local authorities had deposited money in the Icelandic banks but it insisted they had not been "reckless" with taxpayers cash.	The LGA said some 108 local authorities had deposited money in the Icelandic banks but it insisted they had not been "reckless" with taxpayers cash.
It has already met with the British government and won a promise that authorities facing severe short-term difficulties would receive assistance.	It has already met with the British government and won a promise that authorities facing severe short-term difficulties would receive assistance.
However the government has not extended the same degree of protection to councils that it has been guaranteed to individual UK savers.	However the government has not extended the same degree of protection to councils that it has been guaranteed to individual UK savers.
The LGA is expected to hold more talks with the government next week.	The LGA is expected to hold more talks with the government next week.
Nationalisation	Nationalisation
Iceland has been forced to nationalise its main banks, which fell victim to the global financial crisis.	Iceland has been forced to nationalise its main banks, which fell victim to the global financial crisis.
In addition to local councils, other UK public bodies, companies and charities had deposits with the failed banks.	In addition to local councils, other UK public bodies, companies and charities had deposits with the failed banks.
All UK private accounts affected by the crisis will be protected.	All UK private accounts affected by the crisis will be protected.
A Treasury delegation, which includes officials from the Bank of England and the Financial Services Authority, is in Reykjavik trying to establish a claims procedure for British depositors to get their money back as soon as possible.	A Treasury delegation, which includes officials from the Bank of England and the Financial Services Authority, is in Reykjavik trying to establish a claims procedure for British depositors to get their money back as soon as possible.
The talks are expected to last all weekend and the early signs are that significant progress has been made.	The talks are expected to last all weekend and the early signs are that significant progress has been made.
	Chancellor Alistair Darling said he would unveil more details about the UK's bank rescue plan next week.
	"What we're doing over the weekend is looking at specifics, how do we implement it and we'll be making an announcement at the beginning of the week," he said.