Landsbanki/Icesave has gone into receivership, the board has been dismissed

Stompa

Reaper wrote: »

Where does it say "Bank in Recivership"? Sounds to me like it has just been nationalised.

Both nationalisation and receivership are mentioned here:

http://www.telegraph.co.uk/news/worldnews/europe/iceland/3150766/Icelands-Landsbanki-is-nationalised-as-crisis-deepens.html

blizeH

Indeed, don't underestimate the amount of strain being put on their systems at the moment - there's every chance they genuinely couldn't cope with demand.

fusionblue

So if they decided to reduce their rates to the lowest possible amounts (including the rate guarantees), people will just go in and start to move their money out and find a better deal. What would make the situation any different from people panicking and doing the same thing?

IT_nerd

The passport system better !!!!ing work....
Im moving all my money to northern rock after this !!!!.