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Councils seek assurances

Local authority leaders are to meet the Icelandic ambassador next week in a bid to win assurances that funds invested in collapsed banks will be repaid.

The Local Government Association said it will demand taxpayer money invested by councils should be at the top of the pile when repayments are made.

The group said if it fails to win assurances, it will take its case directly to the Icelandic government.

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