The Landsbanki Guernsey Depositors Action Group (LGDAG) has decided not to mount any organised demonstrations at the present time, despite mounting pressure from international investors.
Following the state members' decision that depositors must rely on the work of the joint administrators of Landsbanki Guernsey to recover their money, a number of savers planned to demonstrate to draw attention to their plight. Approximately 70% of savers' individual deposits are still at stake.
However, the action group believe the best way forward is to 'remain rational and calm' while continuing to press the legitimacy of their case for help from the Government.
While the Isle of Man Government has put £150m towards assisting savers affected by the collapse of Kaupthing Isle of Man and recognises the damage the situation has inflicted on the Crown Dependencies, Guernsey has said it has no intention of helping savers, according to LGDAG.
"The contrast is stark and completely incongruous with the actions of all other jurisdictions affected by such bank failures within their territory.
"We have not asked for a handout, but we think it's our right to expect the States to defend and protect British citizens."
The group is upset the State members were not prepared to help, despite the fact various proposals would involve little or no financial contribution from the states, said a local spokesperson for the LGDAG.
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