- Prison Planet.com - http://www.prisonplanet.com -
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 
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.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/britain-sues-iceland-for-3-5billion-for-refusing-to-pay-back-bailout-cash.html
URLs in this post:
 London Metro: http://www.metro.co.uk/news/860493-britain-sues-iceland-for-3-5billion-for-refusing-to-pay-back-bailout-cash
 Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/
 Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR
 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
 Iceland charges European states with ‘bullying’: http://www.prisonplanet.com/iceland-charges-european-states-with-%e2%80%98bullying%e2%80%99.html
 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
 Iceland Rejects Icesave Bank Payback Plan: http://www.prisonplanet.com/iceland-rejects-icesave-bank-payback-plan.html
 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
Copyright © 2013 PrisonPlanet.com. All rights reserved.