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No early elections in Iceland after no Icesave vote thumping

Thursday, 14 April 2011
Prime Minister Johanna Sigurdardottir’s Red-Green coalition government has narrowly survived a vote of confidence in the Icelandic parliament.

32 members voted late on Wednesday night against the Center-right Independence Party's demands for early elections. 30 voted in favour and one abstained.
The demand for the volte of no confidence came after the Icelanders voted 'no' to enable the government plan of how to deal with the Icesave Agreement in last Saturday's referendum. 60 percent said no to the government proposal on how to arrange and repay the Britain and the Netherlands money lost on the Icelandic internet bank account Icesave ands also got bankrupt in 2008
The debt therefore arose when Britain and the Netherlands compensated their nationals who had lost savings in Icesave.
“It was close, but there was a majority, "said a relieved Johanna Sigurdardottis about the vote in the Althing, the Iceland parliament.

Now, Iceland is left in the hand of judicial procedures because the case of the lost saving of the British and the Dutch will now be referred to the European trading court.  The judicial process has been deemed by analysts that it could be costly for Iceland than the solution that voters rejected.

In total were talking of about Skr36 billion, equivalent to Skr108 000 per Icelander.
For more than a year ago, over 90 percent of Icelanders were against the first Icesave Agreement in a referendum. The agreement that was rejected last Saturday was more favourable for Iceland than the former.
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


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