From Iceland — Icesave is a go

Icesave is a go

Published September 2, 2009

Iceland’s President, Olafur Ragnar Grimsson, has approved the Icesave deal that was passed in the third round of talks in Alþingi last week, thereby taking on responsibility for reimbursing British and Dutch account holders burned by Landsbanki’s failed high-interest online savings account.
Despite the public petition that was presented to the President on Monday requesting that the Icesave agreement be put to a referendum, he believed that signing off on the agreement and not prolonging the situation any longer is important for the rebuilding of the country’s economy.
The decision now comes down to the British and Dutch governments and their approval or rejection of the amendments that were added to the initial deal over the course of talks in Alþingi.

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