Weather Forecast

Side logo

Regional News

Iceland referendums on repayment pushed forward
Monday, 28 February 2011
Iceland is to hold another referendum on the repayment of lost saving to the UK and Netherland has been moved from Monday the 9th of April.

This involves the payment of Skr30 billion that was lost when the Icelandic internet bank Icesave went bust in 2008. The account attracted very high interest rates on saving and saw lost of British and Dutch organisation, businesses and individuals saving in the account. But al that was lost when the bank went bust. The Brits and Dutch paid their citizens, businesses and organisations that lost their saving turned to Iceland to repay it. Since then there as been arguments and counter arguments about the repayments.

Current Iceland's president refused to accept the agreement if it does not pass through a referendum and decided to veto it for the second time. After the first veto which was carried out in a referendum in March 2010, which the Icelanders rejected the repayment, it was expected that since the economy is imprve Iceland could agree on a new deal. But there seem to be continuously tough stance in Iceland not to repay the money back to the UK and Netherlands.
By Scancomark.se Team 

Key Norwagian Facts

Official Name Republic of Iceland
President Olafur Ragnar Grimsson
Prime minister Johanna Sigurdardottir
Population 320,000
Capital City Reykjavik
Monetary Unit Icelandic Krona
  1 Krona = 100 aurar
Domain Name .IS
Int. Dialling Code +354
Official Language Icelandic
Religion Christianity
Main stock market Name OMX Iceland 6 PI ISK
Internet Speed 4.2 Mbps (2009)
Vital Links
Statistics ICELAND
Government of Iceland
Gateway to Iceland
Iceland trade directory
Iceland data market
Island business information from the prime ministry


Scandinavian Companies & Market Magazine (c) 2010, Granscole Establishment Sweden AB. Registered in Sweden as a Media Company Organisation Number: 556782-6572