The prospect of that money being lost this week drove Mr Brown to publicly threaten retaliation against Icelandic firms and question the country's economic prospects.
At a press conference in Reykjavik, Mr Haarde said Mr Brown's outspoken public threat to seize the assets of Icelandic companies was "illegal."
He said that the British Government's assessment of Iceland's prospects had fuelled the collapse of the country's currency.
Financial crisis: Gordon Brown accused of sabotaging Iceland economy - Telegraph
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