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Alistair Darling: riding to the rescue of British savers. Photograph: Peter Macdiarmid/Getty images The failed Icelandic bank Landsbanki will receive up to £100m from the Bank of England to help it repay British savers with money deposited at the bank, the chancellor, Alistair Darling, announced today. Speaking in the Commons on the continuing financial crisis, Darling told MPs the government was working closely with Icelandic financial authorities to help push through claims by UK charities and local authorities to recover their money kept in Icelandic banks. "The Bank of England is today providing a short-term secured loan of up to £100m to Landsbanki to help maximise the returns to UK creditors," Darling said. Last week, Iceland's prime minister, Geir Haarde, revealed that Darling was sending a team of UK experts to work... [read full story]
