Icesave - UK Chancellor guarantees its' deposits

UK Chancellor of the Exchequer Alistair DarlingImage via WikipediaAlistair Darling, the UK Chancellor, has just said on the radio that
However, he refused to confirm a guarantee applied to all deposits in all UK banks repeatedly restricting his comments to saying he would do "whatever it takes" to protect.

The first £50,000 to be covered will be funded from the banking industry, with the excess to be funded by the Government. Unlike Bradford & Bingley, there aren't any assets that can be seized/nationalised by the Government to offset the cost.

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