"We are pursuing Iceland and we will pursue it vigorously to make sure that we get the money due to us back.
"But, in the meantime, I am going to be able to help those savers who would otherwise have to look to Iceland to get their money back. I am prepared to stand behind them and to stand behind the depositors."
Which seems like a sensible approach. The Government will lean on the Icelandic Government to get the money back, but in the meantime, help anyone who this affects.
Yes , but these savers are going to get ALL their money back - not limited to the 50k for people guranteed under the British regulatory system ; - when they knew , in this case that , the Icelandic government , was supposed to gurantee a percentage of the amount of money in their accounts .
So isn't that the risk they took ?
As for the Government getting the money back - Well , lets hope so - but I wouldn't bet too many ' sobs' on it .
I'm sure that your Aunt Agatha would be appalled that a Wooster would watch something as dreadfully common as 'Minder'. Whilst I did not watch the series, "sov" was correctly explained by R1Geezer and I respectfully suggest that you misheard the awful dialect that those people use.
Icesave was a UK "branch" of Landsbanki; meanwhile Heritable was a UK "subsidiary" of the same Landsbanki.
Makes a difference, apparently, as Heritable were fully covered by UK regs while Icesave's deposit protection arrangements were partly external.
Reykjavik seems to have mis-spoken itself last night (translation issues), upsetting Darling by saying they weren't paying up. They've now put out a fairly grovelly statement saying they will pay their share, and may even find enough to cover all of Icesave deposits.