Iceland electorate rejects repayment deal with the UK

Posted by admin in Strategy & Planning on Tue, 09/03/2010 - 13:58
  • Icelandic voters have decided they don't want to repay the billions owed to the UK and the Netherlands, leaving Alistair Darling admitting it will be "many, many" years before the debt is settled.
Icelandic voters have overwhelmingly rejected proposals to pay back debts to the UK and the Netherlands following the collapse of Icesave bank leaving Chancellor Alistair Darling only able to say that it will take years to recover the money.    In January Icelandic president Olafur Ragnar Grimsson refused to ratify a bill passed by the country’s parliament to authorise the repayment of money to Britain and the Netherlands following the collapse of the Landsbanki subsidiary in 2008.   But he also called for a referendum on th

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