Don't Panic!

Phew - a short but very comforting email that I wanted to share straightaway.

The airwaves have been full of information about Council's whose reserves have been put at risk by being located in the savings accounts of some of the Icelandic banks that in these past days have been taken under state control.

However, today, the head of finance at Waverley, Paul Wenham, and the portfolio for finance on the council's executive, Mike Band, have told us that

We would like to reassure members that Waverley Borough Council does not currently have any cash investments with any of the Icelandic banks.

Very good news.