Íslandsbanki President Rejects Government Criticism - The Reykjavik Grapevine

Íslandsbanki President Rejects Government Criticism

Published October 5, 2010

The president of Íslandsbanki (formerly Glitnir) has rejected criticism brought up in the prime minister’s address to parliament that banks are not doing enough to help families struggling with their mortgage payments.
Addressing parliament last night, Prime Minister Jóhanna Sigurðardóttir said in part that the new banks have not done enough to help individuals and companies adjust to debt, and pay down what they owe in an easier fashion. She said that the banks have “dragged their feet” on this issue.
Birna Einarsdóttir, the president of Íslandsbanki, dismissed the criticism, telling Vísir that the government is “oversimplifying” matters.
“Solutions are extremely complicated and difficult, and it’s important to have in mind that we are dealing with ordinary problems in extraordinary circumstances,” she said. She added that her bank has personally re-worked loan agreements with about ten thousand people.
While 5% of Íslandsbanki is still controlled by the government, it has been 95% private since October 2009.

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