Amstelveen invested €15m in Landsbanki

Amstelveen has emerged as the Dutch local authority with the highest investment in Iceland’s troubled Landsbanki bank, the Parool reports on its website.


The town, close to Amsterdam, has €15m on deposit at Landsbanki which was put under government protection last week.
An Amstelveen council spokeswoman told the Parool that the town is preparing for the worst case scenario – in which all of its assets are lost.
The finance ministry has already said it does not guarantee local authority deposits.
Others on the Parool’s list include Pijnacker-Nootdorp (€12m), Goes (€12m), The Hague (€10m) and Opmeer (€7m)
At the weekend it emerged that 12 local authorities have a total of €58m in Landsbanki, parent of the bankrupt internet bank Icesave.

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