Iceland blocks deal to pay Britain and the Netherlands £3.6bn for losses caused by collapse of failed bank Icesave

Daily Mail
"Iceland's president today blocked a bill to pay Britain and the Netherlands £3.6billion for losses caused by the collapse of one of its banks.Olafur Ragnar Grimsson vetoed the legislation, which was passed last month by the country's parliament, after receiving a petition signed by a quarter of Iceland's 320,000 population.His decision, only the second time since Iceland's republic was founded in 1944 that the president has not signed into law a bill approved by parliament, automatically triggers a national referendum on the issue."