#1 (permalink) Sun Apr 10, 2011 10:26 am Iceland says - What part of "NO" does the UK & NL not understand? |
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Like how many times do you have to say "NO" to mean "NO"?
Iceland again rejects UK repayment deal Iceland has rejected new proposals to pay back the £2.3bn that Britain spent on compensating savers when internet bank Icesave collapsed, according to early results of a referendum last night.
The first proposal to pay back the UK, and also the Netherlands, was overwhelming rejected in January 2010. Photo: GETTY By Graham Ruddick 8:21AM BST 10 Apr 2011
Broadcaster RUV estimated that 63pc of voters rejected the deal in a referendum, while the Icelandic prime minister and finance minister admitted the "no" side "appears" to have won. The "no" side had campaigned that the agreement would put "an incredible financial burden on Icelanders" and insisted "there never was any legal obligation for Icelandic citizens to shoulder the losses of a private bank". The first proposal to pay back the UK, and also the Netherlands, was overwhelming rejected in January 2010 by 93pc, as the island nation's population objected to being punished for the woes of their banking industry and the high interest rates of 5.5pc. Under the new deal, proposed following talks between the countries, Iceland would have paid a lower interest rate of 3.3pc to Britain. The recovered assets of Icesave's parent bank, Landsbanki, were expected to cover the majority of the debt. British and Dutch savers deposited more than $5bn (£3bn) in Icesave's high-interest accounts. After the Icelandic banking system and Icesave collapsed, British and Dutch authorities borrowed money to compensate customers, then turned to Iceland for repayment. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8440938/Iceland-rejects-UK-repayment-deal.html _________________ Any day you wake up on "the right side of the dirt" is a good day. |
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Political Lurker I'm a Communicator ;-)

Joined: 17 Jul 2009 Posts: 1924
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