Guernsey must rescue Landsbanki depositors: Treasury

Since Landsbanki Guernsey went into administration on 6 October 2008, depositors in the Icelandic Bank's offshore arm have only received 30% of their savings. Depositors hoped the British Government would apply diplomatic pressure on Guernsey to ensure the outstanding savings are returned. However, the Treasury firmly placed responsibility back on the crown dependency, saying as the regulatory authority, it was its responsibility to support savers. Officials speaking on behalf of the Treasury say the UK is in no position to help Landsbanki Guernsey depositors. As the States of Guern...