Could the blow-up that transpired between the UK and Iceland over Kaupthing’s UK-based deposits have come down to a simple misunderstanding in a phone conversation between UK Chancellor Alistair Darling and Icelandic Finance Minister Árni Mathiesen?

The Icelanders seem to think so and have been calling for said transpcript to be made public for the last week. The FT today prints that conversation and does indeed appear to confirm the Icelandic point of view. 24-Oct-08.

http://ftalphaville.ft.com/blog/2008/10/24/17401/iceland-the-darling-tapes/