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Iceland warned it could be frozen out of EU

Britain yesterday warned Iceland that it could be frozen out of the European Union after is President yesterday blocked a deal to repay more than £3bn to UK and Dutch savers.

Icelandic president Olafur Ragnar Grimsson yesterday refused to ratify a bill passed by the country’s parliament to authorise the repayment of money to Britain and the Netherlands following the collapse of Icesave bank in 2008.

Grimsson has instead called for a referendum on the bill following national protests opposing the payouts.

Iceland was warned that it would jeopardise any relationship with the International Monetary Fund and endanger potential entry into the EU if it did not repay the money.

According to the Financial Times, City minister Lord Myners said that if it backed out of compensation Iceland would “effectively be saying that it did not want to be part of the international political system”.


Commission can stay for protection business

Advisers and insurers are relieved at the FSA’s decision to allow commission to remain for protection products. In the retail distribution review consultation paper, the FSA says it will not introduce adviser-charging for protection but will require firms to disclose a commission payment where pure protection is sold at the same time as investment advice. […]

UK housebuilders remain a value trap – despite post-Brexit falls

By Mark Martin & Holly Cassell, Neptune UK Equities As investors continue to digest the UK electorate’s vote to leave the EU, Neptune’s Mark Martin and Holly Cassell explain why they believe housebuilders remain dangerously overvalued Click here to view full article Important information  Investment risks  Neptune funds may have a high historic volatility rating and […]


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