View more on these topics

Iceland heading for referendum on repaying UK

Iceland has said it will put plans to repay £3.4bn of debts for its banking collapse to a referendum vote.

The BBC reports that Iceland has all but given up on agreeing a deal with the UK and Dutch Governments to repay the money they paid out to compensate Icesave savers when the bank collapsed in 2008, meaning it is likely to go to a referendum vote on Saturday.

According to opinion polls, Icelandic voters would be likely to reject the repayment plan.

Iceland’s Finance Minister Steingrimur Sigfusson says: “The referendum is going to go ahead.

“We have been trying to resolve the matter in another fashion but time has run out.”

Recommended

Turn for the verse

A little while back it was Spandau Ballet, then Virgil and now we can add Philip Larkin to our ever growing list of unexpected investment commentators. I’m not 100 per cent certain the poet’s oft quoted This be the verse – the one about what your mum and dad do to you, intentionally or otherwise […]

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Maybe we should hold a referendum in the UK to freeze the asset of all Icelandic citizens in the UK until repayment has been made?

Leave a comment