The cost to taxpayers of reimbursing out-of-pocket Landsbanki savers in Guernsey would be £5.8m.

That's according to the Landsbanki Guernsey Depositors Action Group - formed after the bank went into administration. The figure assumes that the administrator can recover 80% of the lost savings.

The group of 1,600 depositors has now written to the Commonwealth Parliamentary Association which is holding a conference in Guernsey this week to talk about the economic downturn.  14-Jun-09

http://www.channelonline.tv/channelonline_guernseynews/displayarticle.asp?id=425261