Iceland 'missed chance' to protect UK Icesave depositors

The report, commissioned by the Icelandic parliament, said the 2008 crisis had become inevitable by 2006 and the authorities missed an opportunity to protect UK depositors in Icesave. If Icesave had become a subsidiary of Landsbanki - a move mooted by the bank and FSA but subsequently rejected by Landsbanki - British depositors would have had the first £50,000 of their money insured by the UK, reports the BBC. The report, by the Special Investigation Commission, goes onto accuse figures - including former Primer Minister Geir Haarde - of negligence for failing to appreciate the syst...