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There's no place like home for savers

Who could believe that savers Savers, Inc. headquartered in Bellevue, Wash., is a privately held for-profit thrift store chain offering the best in secondhand shopping. An international company, Savers has more than 200 locations throughout the United States, Canada and Australia, and receives its merchandise  could be treated so shabbily shab·by  
adj. shab·bi·er, shab·bi·est
1.
a. Showing signs of wear and tear; threadbare or worn-out: shabby furniture.

b.
 by a western democratic government?

Earlier today, the chancellor, Alistair Darling, announced that the Icelandic government had decided not to honour Honour or honor (see spelling differences), is the evaluation of a person’s trustworthiness and social status based on that individual's espousals and actions.  its obligation to savers in the UK to provide compensation for up to £16,000 of deposits.

This is just three days after a representative of the Icelandic government and chief executive of Icesave Icesave operates an online easy access savings account which was launched in October 2006. Icesave, which is owned by Landsbanki, The national bank of Iceland, has been created to increase the diversity of Landsbanki´s funding.  went on Radio 4's Moneybox to say there was nothing for British savers to be worried about, that they would be able to access their money. Two days later the bank's accounts were frozen and British savers were left out in the cold.

The prime minister, Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S.  Brown, has promised legal action against the Icelandic government to get the money back, and Darling said this morning that he will guarantee all UK savers' money in IceSave. But he won't won't  

Contraction of will not.


won't will not
won't will
 necessarily do that for all other savers who have money with foreign-owned banks.

The message seems to be clear: if you have money in an account run by a foreign bank, switch it as soon as possible to a UK bank. It looks as though you can no longer trust the promises made by other countries' governments. There is no amount of interest an overseas bank can offer that could make up for losing your money - so are you now thinking twice about holding money with one? Vote in our poll and tell us what you think.
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Author:guardian.co.uk
Publication:guardian.co.uk
Date:Oct 8, 2008
Words:243
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