Landsbanki Bank

Landsbanki Freezing Order 2008

The HM Treasury attempted to freeze all the assets of Icelandic Landsbanki bank in the UK. The order was approved by both Houses of Parliament on the 28th of October 2008. Landsbanki bank was placed into receivership in Iceland as the bank was one of the first of the global crisis to reach the brink of collapse. When this happened the powers that  be in the UK tried to get Iceland to put the burden of debt from this bank onto the Icelandic public. The prime minister of Iceland at the time refused and Landsbanki bank was put on the same list as Al qaeda and the Taliban.

The Icelandic prime minister Geir Haarde knew what was best for his people and put the decision to a democratic vote. The pressure was immense from the UK and the neighbouring European Countries but they withstood and eventually received loans and financial aid from China to help prop them up. Now their economy is growing at a better rate than most others in the EU.