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Between Iceland and Portugal? Ireland’s turn for cash
Our Political Editor recalls the last time the Treasury got involved in a banking bailout – and wonders if there’s another reason George Osborne favours Ireland.
The UK should expect some flight disruption because of the volcanic eruption in Iceland, warns the Civil Aviation Authority, as one expert also tells Channel 4 News of the risk of “glacier burst”.
Iceland’s most active volcano has released a plume of ash which could reach the UK by Tuesday, but scientists doubt there will be a repeat of the travel chaos caused by last year’s cloud.
The government will take legal action in the international courts to recoup billions of pounds paid to British savers when the Icelandic banking system collapsed in 2008.
Top businessmen and brothers Robert and Vincent Tchenguiz have been arrested in a probe into collapsed Icelandic bank Kaupthing. The pair “symbolised the boom”, an expert tells Channel 4 News.
As WikiLeaks announces US officials have subpoenaed the Twitter details of Julian Assange, Mr Assange’s lawyer tells Channel 4 News he believes a subpoena has also been issued against Skype.
As WikiLeaks announces US officials have subpoenaed the Twitter details of Julian Assange, Mr Assange’s lawyer tells Channel 4 News he believes a subpoena has also been issued against Skype.
Our Political Editor recalls the last time the Treasury got involved in a banking bailout – and wonders if there’s another reason George Osborne favours Ireland.
Iceland’s former Prime Minister has become the first politician to face charges over the financial crisis, after the Icelandic parliament voted to bring negligence charges against him.
As Iceland’s president refuses to sign a bill to compensate UK taxpayers for bailing out Icesave, Faisal Islam concludes that this is the mess created when a banking system outgrows a state’s capacity to support its liabilities.
The ingredients are falling into place for another global financial crisis, blogs Jon Snow. And if it happens, the examples of Ireland and Iceland should serve to remind the UK that size matters.
McDonald’s pulls out of Iceland as the country eyes European Union membership. Tony Blair EU presidency rumours continue.
So MPs are finally beginning to dig around in what flowed from the banking system meltdown in the aftermath of the Lehman Brothers collapse. Of intimate British interest is the Isle of Man’s involvement with the Icelandic bank Kaupthing. The Isle of Man used to be in the news for TT motor cycle racing. These…