I've just read that we, the British taxpayers, are to bail out all the cretins that put more than £50,000 into that dodgy foreign bank (Icesave) that was paying an excessive rate of interest. How stupid is that? In future should we move all our savings from the UK banks and put them with whichever minor, previously unheard of, foreign bank is paying a better rate of interest? Why be content with 6% when the Bank of Timbuktu may pay us 7%+. After all there will be no risk - our Labour Government would come to our rescue with taxpayers' money! Unbelieveable!
POSTSCRIPT : It now appears that 20 local councils in the UK have deposited hundreds of millions of pounds with these Icelandic banks. Heads should roll in these councils and the "responsible" officials who put public money at risk in these Icelandic Casinos should be named and shamed. UPDATE : Ipswich Borough Council have £5million deposited in Icelandic banks. That's the annual Council Tax of 4,000 hard working Ipswich families.
UPDATE - FRIDAY 10TH : The country of Iceland is now for sale on ebay. Hopefully this link will work