Iceland says it was bullied over bank debt | Reuters

Former headquarters of Landsbanki in Reykjavik...

Image via Wikipedia

(Reuters) – Iceland’s president accused European countries on Sunday of having bullied it into agreeing to guarantee repayment of the debts of a failed bank, reviving a dispute with Britain and the Netherlands whose citizens are owed billions.

When Iceland’s banking sector collapsed in the 2008 global financial crisis, accounts were frozen at the bank Landsbanki, which had accepted deposits from British and Dutch savers through online funds called Icesave.

Iceland says the estate of the failed bank will be enough to repay about $5 billion of debt to the British and the Dutch. The two countries had wanted the government in Reykjavik to give a state guarantee to the repayment.

In a referendum earlier this year, Icelanders rejected for a second time giving a guarantee.

via Iceland says it was bullied over bank debt | Reuters.

Strange Random Icelandic Quote:

“Ég skildi, að orð er á Íslandi til um allt, sem er hugsað á jorðu.”

I understood, that a word in Iceland exists, covering every thought on Earth.

Úr Móðir mín (From My Mother), Einar Benediktsson
on learning the Icelandic language at his mother’s knee

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Posted on September 5, 2011, in Article and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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