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Iceland Rejects Icesave Bank Payback Plan

Hazel Tyldesley
Sky News Online [1]
Sunday, March 7, 2010

Icelanders have rejected a plan to pay back the British Government for money it lost over the collapse of the Icesave bank in 2008.

Over 93% percent of voters cast ballots opposing the £3.5bn deal to compensate the British and the Dutch state, initial results showed.

Both nations reimbursed citizens who lost money when Landsbanki and its internet banking scheme Icesave folded.



“This result is no surprise,” Prime Minister Johanna Sigurdardottir said.

“Now we must turn to the task of finishing the negotiations on Icesave.”

The propsed deal would require each person to pay around £90 a month for eight years, and many Icelandic taxpayers say they cannot afford it.

Full story here. [1]