Troy Wells said:
And I quote “IceSave is not allowing deposits or withdrawals for the time being – but whatever happens, UK savers’ money is insured up to the value of GBP 50,000 even if IceSave folds.”
You fail to mention that this guarantee is provided by the UK. The Icelandic Government have effectively stolen £4 billion [...]
“The danger is real, dear countrymen, that the Icelandic national economy—if the situation develops in the worst possible way—would get sucked with the banks into the furious surf and the consequent would be nation-wide bankruptcy,” Haarde said in his address to the nation earlier in the day.
The collapse of the Icelandic króna for the past weeks is so significant that it imbalances the national economy. The Central Bank of Iceland has therefore been given permission from the Prime Ministry to lock the currency of the ISK.
The goal with these actions is to support the appreciation of the ISK and achieve stability [...]