From Iceland — Mischon de Reya Cautioned Against Publication

Mischon de Reya Cautioned Against Publication

Published December 28, 2009

The law firm of the Solicitors Mischon de Reya cautioned against the pubication of their review of the Icesave bill, even though the Finance Committee decided to release the document to the media anyway.
According to RÚV, they cautioned that the release of the memorandum could be damaging. The Finance Committee, bowing to pressure for the minority, made the document public all the same. It can be read in its entirety here, from Vísir’s website. It points out, among other things, that the interest rate asked for by the British and Dutch is too high, and that the bill is written in such a way that depositors could conceivably receive more money than they put in.
While the bill’s support has almost evenly divided support in parliament, about 70% of Icelanders polled are against the bill’s passage, or against the president signing it into law.
A final vote on the bill is expected today.

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