Icelandic cabinet ministers met this morning to discuss economic reforms to stabilise the Icelandic economy, MBL.is reports.
After the meeting, the Prime Minister, Geir H. Haarde, had little to say other than that the proceedings are at a very “serious” stage. The PM then went on to meet opposition leaders and then on to a meeting with pension fund managers at 11.00.
Last night, the Icelandic government sent out a statement on the security of Icelandic banks:
“The government of Iceland reiterates that deposits held by domestic commercial banks and savings banks and all their operations in Iceland will be insured in full.
By deposits, all deposits of general public and companies that the insurance of the deposit department of the State Insurance Institute covers are inferred.”
This means that the state treasury insures all private savings which fall under insurance fund definitions, and any savings over the amount automatically insured according to law will by directly insured by the treasury.
IceNews will offer further updates as they come.
