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Charities stand to lose millions in Iceland banks crisis
By Andy Ricketts, Third Sector Online, 9 October 2008
Three charities fear they have lost reserves totalling £25m in the wake of the banking collapse in Iceland.
Stephen Bubb, head of chief executives body Acevo , said three members had contacted the organisation with concerns that their reserves in Icelandic bank accounts could be lost. The unnamed organisations held reserves of £11m, £10m and £4m respectively in Icelandic bank accounts. "We have had reported to us today...
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