Council has £1m in troubled Icelandic bank
Published Date:
10 October 2008
KIRKLEES Council has £1m invested in the troubled Icelandic banks.
However finance chiefs said they did not believe there was any cause for alarm.
Coun Andrew Palfreeman, cabinet member for finance and governance, said: "The council has £1m investment in Landsbanki, which is due to be repaid in January 2009.
"The Icelandic government has said that the bank will run as normal, so we expect the investment to be repaid and will be working to secure that."
Up to 20 councils have invested millions in the Icelandic banks.
The full article contains 95 words and appears in Dewsbury Reporter newspaper.
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Last Updated:
10 October 2008 10:30 AM
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Source:
Dewsbury Reporter
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Location:
Dewsbury
