What will it be when we have to "apply" to get cash out of our banks, could RBS be next?? He did mention RBS and they got hammered today.
What does the nationalisation mean for UK customers?
The Banking Compensation Scheme "expects (Icelandic internet bank) Icesave to default", meaning 300,000 UK savers may need to claim compensation.
The Icelandic Prime Minister Geir Haarde has said he believes the lender has enough assets to cover British customers, despite parent bank Landsbanki
going into receivership.
The banking group is Iceland's second biggest financial institution and is now under government control after sweeping new regulatory powers have
come into force.
It has temporary protection from payment of debts and obligations as they fall due.
Iceland's Prime Minister also said that funds from a loan agreed with Russia would go into the crisis-hit country's foreign reserves.
He told a news conference:"People from our side will be going to Russia today or early tomorrow morning to discuss the exact terms."
news.sky.com...
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