Darling accused of Not Warning UK Institutions Of Icelandic Melt Down

Posted 30/11/2008 - 01:46 by steveejeb

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2008-11-30 (All day)

.............The news comes as Chancellor Alistair Darling is under fire from the Liberal Democrats as to how much the government knew about the parlous state of Iceland's finances in the run-up to the financial crisis.

Lib Dem Treasury spokesman Vince Cable wrote to Darling after it emerged he held talks with the Icelandic finance minister over the crisis in the summer. Cable asked him to explain why he didn't warn UK institutions their investments could be under threat, and still hasn't received a reply. Lord Oakeshott, the Lib Dem's Treasury spokesman in the Lords, said: 'Mr Darling can't be bothered to reply to questions about hundreds of millions of British cash trapped in bust Icelandic banks.'