Saturday 2 January 2010

Icelandic revolt upsets Icesave deal

Telegraph
"Iceland’s president will on Saturday meet activists calling on him to veto a deal that would return £3.4bn of Icesave deposits to former customers in Britain and Holland."
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Iceland approves UK payout after Icesave collapse claim
"Iceland's parliament yesterday narrowly approved a Bill that will pave the way for Britain and the Netherlands to recoup the €3.8bn (£3.4bn) lost by customers of the online savings bank Icesave, which collapsed under a mountain of debt in 2008.Under the deal, which is deeply unpopular with Icelanders, the two governments will receive payments over the next 14 years after compensating the losses of more than 320,000 of the bank's customers."

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