Isn't this sufficient?

Icesave dispute - Wikipedia, the free encyclopedia

The Directive imposes a minimum guarantee of €20,000 per depositor: moves to increase this minimum to €50,000 or even higher had been agreed politically before the Icelandic crisis, but had not been incorporated into EU law, much less into EEA law. The Tryggingarsjóður guarantees 1.7 million krónur on the basis of a fixed euro-króna exchange rate, equivalent to €20,887.^[61] The Netherlands and the UK have higher guarantee levels, €100,000 and £50,000 (approx. €60,000) respectively: Landsbanki was a member of the Dutch and British compensation schemes for the purposes of guaranteeing this difference in cover, an arrangement known in Britain as the "passport system",^[64] and commonly used by banks throughout the EEA. In addition, the UK Treasury has exceptionally guaranteed retail deposits in excess of £50,000 which were held in Icelandic-owned banks in the UK at the time of the crisis, at a cost of some £1.4 billion (€1.7bn).

Icesave depositors would have been covered up to €20,000 by the Icelandic deposit insurance, and had become a member of the Dutch and British compensation schemes for the remaining covered amounts. So, for Dutch deposits, the Dutch compensation scheme would have been liable for an additional €80,000 and the British compensation scheme for €40,000.

What am I missing?

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma