Manx crisis blamed on government
Updated on 23 October 2008
The Isle of Man's chief minister tells Channel 4 News it holds the British government responsible for the financial problems on the island.
Tony Brown said the decision to put Kaupthing, Singer and Friedlander into administration in the UK caused the parent bank in Iceland to collapse and the Isle of Man subsidiary to go into temporary liquidation.
The government has not promised to reimburse 10,000 Britons who had deposited £840 million on the Isle of Man and a court on the island will decide if the bank should be wound down, with depositors losing any savings over £50,000.
Kaupthing discussion
Watch discussion between depositor Ziggy Sieczko and John McFall MP, chair of treasury select committee.
