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Kent County Council, controlled by the opposition Conservatives, tops the list of local government bodies looking to retrieve investments in Iceland: $85 million of its total budget of $4.42 billion is stuck in Icelandic accounts. Nick Chard, the council's cabinet member for finance, says he and his colleagues chose its banks in line with government rules about spreading risk by placing deposits with a range of institutions. Those rules also stipulate that councils should try to obtain as high a return as possible and should always check the credit ratings of the institutions. "At the time of making...
When the dust settles, the committee might want to revisit Ussher's words and maybe even question the wisdom of the rules governing local-council investments and how local councils interpret them. For the moment, Britons' ire is directed outward: at Iceland's hubris in allowing its banks to expand imprudently. There are also mounting concerns about how Iceland's economic meltdown will affect British Main Streets. Icelandic investment companies also own significant shares in famous retailers such as Debenhams, Hamleys and Oasis, and an Icelandic entrepreneur even owns the East London premiership football club West Ham United...
...There is an effort to come up with an appendix regarding the minorities later on.' NASSER AL-ANI, Iraq's presidential-council spokesman, saying such a provision is difficult to implement given the nation's lack of census data...
Beinart is a senior fellow at the Council on Foreign Relations
...stakes of the negotiations rose significantly on Wednesday, when the U.N. Security Council passed a resolution authorizing governments to use all necessary measures to combat piracy. That would presumably include the use of force. Now the warships guarding the Faina must calculate whether such a raid, which would put the lives of the 20 hostages aboard the ship at risk, is worth a potential catastrophe. "If they attack us, we will defend ourselves and the situation will worsen. We will fight until only a drop of blood is left in our bodies," Sugule Ali, the pirate spokesman, tells TIME from...