More than 200,000 British investors in the Icelandic internet bank Icesave were today unable to make any deposits or withdrawals from their accounts.

Customers hoping to access their account were met with a message on the bank's website this morning which said that Icesave was not 'currently processing any deposits or withdrawal requests'.

There was no explanation for the move but it comes as Iceland's government grappled with a major crisis in its banking sector.

This morning Iceland used emergency powers adopted on Monday to dismiss the board of directors of Landsbanki, the bank that owns Icesave, and put the bank into receivership.

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