Huddersfield man loses £200,000 in Iceland bank collapse

Nov 7 2008 by Neil Atkinson, Huddersfield Daily Examiner

Ms Creagh urged ministers to meet representatives of the depositors to allow them to put their case.

She said: “I cannot overestimate the stress these people are experiencing. Their lives are in limbo, their plans are on hold. Their futures are uncertain.”

Economic Secretary Ian Pearson said the problem with Icelandic banks did not originate in the UK but in the Icelandic banking system.

He added: “While the Government understands that many people have been affected by the failure of Icelandic banks, oversight of overseas accounts is the responsibility of the relevant regulatory authority in that jurisdiction.”

He told Ms Creagh he would ask Treasury officials to meet her.