The financial crisis has cooled relations between Britain and Iceland.
British Prime Minister Gordon Brown condemned Iceland's position on freezing bank accounts held by British savers, saying it was "effectively illegal action." British broadcaster BBC reports that almost 100 British local authorities have more than 900 million euros in deposits in Icelandic banks that they now cannot access. The situation in Iceland has become ever more dire. On Thursday, trade was suspended on Reykjavik's stock exchange and the government nationalised Iceland's largest bank group, Kaupthing.
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