Iceland president vetoes Icesave bill
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Icelandic president Olafur Ragnar Grimsson has refused to ratify a bill passed by the country’s parliament to authorise the repayment of money to Britain and the Netherlands following the collapse of Icesave bank in 2008.
Grimsson has instead called for a referendum on the bill following national protests opposing the payouts.
Around a quarter of Iceland’s voters signed a petition urging the president Olafur Ragnar Grimsson to call a referendum over the repayment of over £3bn.
A deal would see Britain recoup £2.3bn for losses suffered by around 300,000 clients of Icesave, the subsidiary of nationalised Landsbanki.
Grimsson has already assured that Iceland will honour its obligations but has not said how this will be resolved.
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