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Winchester City Council "grossly imprudent" over Icelandic investment

October 12, 2008 6:59 PM

From an article in the Independent on Sunday, October 12th:

"Despite warnings as far back as July that investing in Icelandic banks was risky, Tory-controlled Winchester council deposited £1m in Heritable, a Landsbanki subsidiary, in September. Lord Oakeshott, Liberal Democrat Treasury spokesman, said: "Winchester council was grossly imprudent. I wouldn't put them in charge of a child's money box." "

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