Iceberg?

I telephoned my old friend Geir Haarde this morning. As usual he was in a buoyant mood and said 'everything is alright - how you say hunky-dory'. Geir knows his nation and understands the banking sector intimately. So Somerset has absolutely no need to be in any way alarmed. Our £25million investment of council tax payers money is not only rock solid but Geir assured me that the interest rate would soon reach hit a new high. Then the line went dead.