Devon Councils Won't Be Bailed Out for Time Being ; Ministers Have Rejected a Bail Out for Devon Councils and Other Local Authorities with Cash Frozen in Collapsed Icelandic Banks.

Express & Echo (Exeter, UK) › October 30, 2008

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Summary

Ministers have rejected a bail out for Devon councils and other local authorities with cash frozen in collapsed Icelandic banks.

The Government has stressed that the cash is not lost but is "at risk", and it was too early to say how much money will be clawed back.

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Extract

Devon Councils Won't Be Bailed Out for Time Being ; Ministers Have Rejected a Bail Out for Devon Councils and Other Local Authorities with Cash Frozen in Collapsed Icelandic Banks.

Exeter City Council has pounds5m invested in two Icelandic...

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