Tuesday, October 7, 2008

How Iceland’s meltdown affects you

How Iceland's meltdown affects you

Iceland could be on its way to being the first country to fail in the global credit crisis. And that could be very bad news for British savers...

Posted by damien @ 03:27 PM (432 views)
Please complete the required fields.



3 thoughts on “How Iceland’s meltdown affects you

  • From telegraph.co.uk

    “Clare Francis, editor of the personal finance website moneysupermarket.com, said: “The good news for British customers is that even if the Icelandic scheme does not have enough money set aside, the rules mean that the British authorities will step in to cover all the shortfall.”

    Interesting. Never heard this before.

    Reply
    Please complete the required fields.



  • Generally speaking the higher the yield the higher the risk. If you shop around for the best yields, as UK savers in Icelandic banks did, you need to take this on board.

    Reply
    Please complete the required fields.



  • But Icesave was not the highest yielder, and not the first to get into trouble. The shaky banks also had low paying accounts. Not always easy to see who will wobble next. Look at RBS today, for example

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>