• From The BBC:

    The Icelandic parliament has voted in favour of repaying more than $5bn (£3bn) to the governments of the UK and the Netherlands.The so-called Icesave bill will reimburse funds paid by the governments to compensate those who lost money in the Icelandic online bank Icesave. About 400,000 savers lost their money when its owner Landsbanki collapsed last year. The bill has enraged many in Iceland, who fear it might bankrupt the nation. The deal was agreed in June, but was only passed after an amendment was added setting various limits to the payments. ‘Fairness’The Icesave bill’s passage means that the Icelandic government has agreed to guarantee the repayment of the £2.3bn loan the UK government made last year to ensure that none of its savers lost money. The amendments will now have to be agreed by the UK and the Netherlands. “It is my sincere hope after this vote, that the UK and Holland will show us understanding and fairness in this matter,” Iceland’s Prime Minister Johanna…

    Click to read the full article »

    Posted by Jon @ 7:31 pm

Leave a Reply

Your email address will not be published. Required fields are marked *