Weston Mercury, 26 Nov 2011AFTER ongoing legal disputes over North Somerset Council’s investment in an Icelandic bank, a councillor has spoken of the risks which more overseas investment may pose to taxpayers’ money.
As of September 30, the council had £58.2million invested in banks, deposits and government bonds, according to the treasury management report, which was recently considered by the council’s executive.
Now the council has confirmed it will invest £3million with the Overseas Chinese Banking Corporation, in Singapore. Full story
