European law stipulates that a country is only required to pay the first 21000 euros of savings in banks with legal residence in their country. This is exactly what is going to happen. The assets of the banks concerned will be used to compensate sums higher than these 21000 euros. End of case....

Hinrik, Reykjavik, Iceland

Why do people on here blame the UK government for the Icelandic crisis. Their government and its people are behaving shamefully in sneering at UK hardworking depositors and the millions of charity and University monies lost. Mr Brown was and is right to take a hardline stance. Shame on you Iceland!

mac, Manchester, uk

The UK govt is trying a swift one of passing on the cost of their generosity to the UK icesave clients.

Gunnar lives on another planet. I have friends who are now unemployed and this is going to get worse.

andy khan jackson, reykjavik, iceland

Gunnar obviously doesn't know what he is talking about. There is a crisis in Iceland. People are loosing their lives savings jobs, home's and families are suffering.

If you think people are going to be spending money on fireworks this year guess again.

www.indefense.is

Olafur Gunnarsson, Reykjavik, Iceland

I cannot believe the shameful behaviour of the Icelandic government .
having robbed /stolen/ or to make it sound less like daylight robbery 'appropriated' the savings of thousands of people they
have the hard face to celebrate.

Shame on you.

The Greatest Robbery of the century.

kate, London , uk

The Government has continued to show gross incompetence and poor judgement - it started with naming and shaming Northern Rock without anticipating the resulting first run on a UK bank for 160 years.

I and my family were (past tense) Labour voters - they will be out of power for a generation.

David, London,

The Icelandic Finance minister DID refuse to guarantee foreign depositors, not once but twice. He also stated that the deposit protection fund was incapable of paying out.

Complete text -

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=28304&ew_0_a_id=31420

Peter, London,

The HM Treasury and FSA clearly made serious in siezing control of Kaupthing Singer & Friedlander assets in UK causing the failure of the IOM bank as well. There is a reak of incompetence about the actions of these two organisations and the UK government needs release the IOM depositors money ASAP

Darrell Monteith, Omagh, Northern Ireland

Kevin, the immediate requirement was to control the Icelandic bank system as there is an integrated banking system here and little reliance on cash. Iceland will meet its legal requirements as per passport scheme and more...if the liquidated assets cover creditors (like any UK administration order)

andy khan jackson, Reykjavik, Iceland

It's easy for Darling to talk/look tough when he bullies someone smaller in the playground. We can't blame the US for our economy - we are going into recession ahead of them and it's all Brown's fault.

Leave Iceland alone - focus your efforts on sorting out the mess your boss created Mr Darling!

Andrew, Bingley, UK

The simple truth is that Iceland is not legally obliged to clean up after Icelandic bandits, no more than any other nation has to pay the debts of their lousy businessmen. Besides, we the citizens cannot afford it. We're sorry and ashamed and broke. We do not gloat over others' misfortunes either.

Baldvin, Akureyri, Iceland

Good old Gunnar! I don't know what planet you are living on ... but it certainly is not planet reality!
Good luck paying off all your debts ... and reflect on these words in ten years time when you are still paying them off.
And remember 'Fireworks only leave hot air in their wake'!

Robin, Copenhagen, Denmark

I find it very interesting that the UK government is demanding that Iceland repays offshore accounts when at the same time the UK government is refusing to pay those who had accounts in the Isle of Man.
Double standards???

Gerda, West Molesey, UK

We are not having any crisis, actually we just had an order of tons of fireworks for our new year's day celebration. Now beat that and we are still partying till the morning. We Icelandics do not have a crisis, only the Brits.

Gunnar, Keflavik, Iceland

I had £65k with Icesave. Good thing that the UK appropriated Landsbanki`s assets otherwise UK taxpayers would take the full hit. Iceland drew up last minute laws to protect it`s people and shaft us. If we need to use a terrorism law to protect our taxpayers and savers then fair enough.

kevin, aylesbury, england