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Britain sues Iceland for £3.5billion for refusing to pay back bailout cash

Posted By admin On April 11, 2011 @ 4:44 am In Money Watch | Comments Disabled

London Metro [1]
April 11, 2011

Iceland is to be sued by Britain and the Netherlands to recover £3.5billion lost when its banking system collapsed.

But the legal action will take at least 18 months to resolve, the British government has been warned.

The move follows a referendum in Iceland that rejected repaying money lost by the IceSave bank when it went bust in October 2008.

The British and Dutch governments had to reimburse 400,000 citizens when they lost their deposits.

‘It’s obviously disappointing, it seems the people of Iceland have rejected what was a negotiated settlement,’ said chief secretary to the Treasury, Danny Alexander.

Full article here [1]

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Britain sues Iceland for £3.5billion for refusing to pay back bailout cash 101210banner4 [3]

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URLs in this post:

[1] London Metro: http://www.metro.co.uk/news/860493-britain-sues-iceland-for-3-5billion-for-refusing-to-pay-back-bailout-cash

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR

[4] Britain to loan Iceland three bln pounds to repay savers: report: http://www.prisonplanet.com/britain-to-loan-iceland-three-bln-pounds-to-repay-savers-report.html

[5] Iceland charges European states with ‘bullying’: http://www.prisonplanet.com/iceland-charges-european-states-with-%e2%80%98bullying%e2%80%99.html

[6] The President Of Iceland Tells Us How He Had The Balls To Stand Up To Britain: http://www.prisonplanet.com/the-president-of-iceland-tells-us-how-he-had-the-balls-to-stand-up-to-britain.html

[7] Iceland Rejects Icesave Bank Payback Plan: http://www.prisonplanet.com/iceland-rejects-icesave-bank-payback-plan.html

[8] Erapture! Iceland Grimsvotn Volcano Has Erupted, White Plume Ejected 18,000 Feet Into Air, Seismic Readings Across Iceland Off The Charts: http://www.prisonplanet.com/erapture-iceland-grimsvotn-volcano-has-erupted-white-plume-ejected-18000-feet-into-air-seismic-readings-across-iceland-off-the-charts.html

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