Iceland shows challenges of cross-border regulation

摘要

Thanks to cross-border passporting, Icesave became a high-profile online brand in the UK. But when its parent Landsbanki collapsed in October 2008, Icesave depositors found they were not covered under any country's deposit guarantee scheme. The UK government reluctantly stepped in and has been arguing with the Icelandic government over who should pick up the tab ever since.