British Charities May Lose Money in Icelandic Financial Crisis

British charities seeking emergency payouts after depositing millions of dollars in failed Icelandic banks had their requests denied by Britain’s treasury department, reports the Financial Times.

The National Council for Voluntary Organisations estimates that British charities could lose up to $205-million in the economic crisis facing Iceland. The council says that it has so far identified seven charities with more than $51-million at risk