Finance Minister
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Íslandsbanki Sale: Pressure On Finance Minister To Resign
Minister of Finance Bjarni Benediktsson is now facing increased calls for his resignation in the wake of the sale of shares in Íslandsbanki, which the government admitted yesterday has been deeply flawed. [su_pullquote]Are you going to Iceland in the near future? Check…
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Finance Minister Breaks COVID Restrictions, Scandal Ensues
It started with a somewhat innocuous announcement from the police blotter—and has now blown up into calls to disband the government. Police were called to the Ásmundasalur museum on the night of December 23 after receiving word that a party was in…
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Nurses’ Strike Called Off In Response To New Arbitration Proposal
Organisers called off a planned strike by the Icelandic Nurses Association last night, hours before it was scheduled to start, RÚV reports. The strike over nurse’s wages and working conditions was scheduled to start at 8:00 this morning, but was cancelled due…
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Panama Papers: Ruling Coalition On Shaky Ground
The future of the ruling coalition is uncertain in the wake of the unfolding Panama Papers scandal. As the Panama Papers leak continues to unfold – implicating numerous world leaders, including Prime Minister Sigmundur Davíð Gunnlaugsson – the future of the Progressive…
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Iceland’s Finance Minister Amongst Ashley Madison Users
Minister of Finance Bjarni “Icehot1” Benediktsson was amongst Ashley Madison’s millions of users, reporters have found. His wife’s account of their activity on the site contradicts data from the site itself, while a city councilperson for the Pirate Party calls the matter…
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Sweeping Toll Eradication In The Works
The Ministry of Finance is prepared to get rid of nearly all customs charges over the next two years, with food as the sole exception. Kjarninn reports that the ministry will be making the change in two steps. Customs charges on clothing…
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Bird-Flipping Bus Driver Still A Mystery
The bus driver who has repeatedly given Finance Minister Bjarni Benediktsson the finger has not been identified, nor has the bus company scolded its drivers to not flip off government officials. Earlier this week, Bjarni told radio listeners that, on many occasions,…
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Finance Minister Keeps Getting Flipped Off By Bus Driver
Finance Minister Bjarni Benediktsson says the same city bus driver has given him the middle finger on several occasions when the two happen to be at Lækjartorg. Vísir reports that Bjarni was a guest yesterday morning on the Bylgjan radio show Bakaríið.…
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Iceland Still Hasn’t Bought Tax Dodger Info
The Directorate of Tax Investigations in Iceland has yet to purchase evidence proving Icelanders guilty in over 400 instances of illegal tax evasion, reports Vísir. “We are working on the issue and I believe we are about to settle it,” said Head…
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FM: Nothing Wrong With Accepting Contributions
Companies within the fisheries industry donated around 16 million ISK to campaigns in the last election, reports RÚV. Roughly 90% of that money went to the Independence Party and Progressive Party, who are now Iceland’s ruling coalition. Finance Minister, Bjarni Benediktsson –…
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Wants 150 Million ISK For Tax Dodger Info
The informant looking to sell data proving hundreds of instances of tax evasion at the hands of Icelanders has asked for 150 million ISK or 1.1 million USD, reports RÚV. As reported, since receiving the offer a few months ago, the Directorate…
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HSBC Leak Reveals Icelandic Tax Dodgers
Accounts leaked by a whistleblower reveals that banking giant HSBC helped clients across the world evade hundreds of millions of dollars worth of tax, including six individuals with ties to Iceland across 18 accounts. RÚV reports that a total of 1.3 billion ISK…
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Government Hold Out On Buying Tax Dodger Info
Since receiving an offer from an informant with evidence on a hundred Icelanders guilty of illegally evading taxes a few months ago, the Directorate of Tax Investigations in Iceland has been struggling to obtain political and financial backing from the government. RÚV…
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Doctors And State Hope To End Strike This Week
Negotiations between the Icelandic Medical Association and the State’s representatives continued towards midnight on Monday. Another meeting was announced on Tuesday afternoon. This was reported by Vísir. Meanwhile, doctors at public hospitals continue their strike actions, which commenced last October. Emergency cases…
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No Agreement In Sight Between Striking Doctors And State
Finance Minister Bjarni Benedkitsson says that the State’s negiation committee will not reach further towards doctors’ demands. This was reported by RÚV. Negotiations thus seem to have halted. Medical doctors at State hospitals started strike actions in October and have announced more…
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Iceland’s Showdown With Creditors Arrives
The Icelandic government will tell hedge funds and other creditors in its failed banks how their claims can be settled this week, reports Bloomberg. The government has reportedly designed a model to protect the ISK from any instability that might result from…
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Finance Minister’s Family Purchase State Assets Behind Closed Doors
Finance Minister Bjarni Benediktsson’s family was granted early access to an unadvertised share sale that allowed them to purchase a stake in Landsbankinn asset Borgun, reports Kjarninn. In all, Landsbankinn sold 31.5% of Borgun shares in this sale to a number of companies. The largest…
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Iceland’s Euro Bonds Yield 2.6%
The six-year euro-denominated bonds Iceland put up for sale in preparation to phase out capital controls have yielded 2.6% and mark a good return to the European market, reports Bloomberg. “We are happy,” Finance Minister Bjarni Benediktsson said. “We are refinancing all…
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Iceland Prepares To Phase Out Capital Controls
Iceland is planning to sell six-year euro-denominated bonds in a push to ease the capital controls that have been in place since the economic collapse of 2008. According to Bloomberg, the government hired Barclays Plc, Citigroup Inc., Deutsche Bank AG and JPMorgan Chase…
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Finance Minister Wants To Sell Landsbankinn
Finance Minister Bjarni Benediktsson has said he wants to sell the government’s shares in Landsbankinn. Bjarni told RÚV that ideally the government would retain 40% ownership and no more than 10-20% of shares would be sold to any one buyer. “Parliament has…
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Finance Minister Pushes Creditors
Finance Minister Bjarni Benediktsson has warned that defunct banks Kaupthing, Glitnir and Landsbanki could go bankrupt unless creditors agree to a “haircut on debts”, reportsReuters. In the aftermath of the 2008 crash Iceland installed capital controls, limiting much needed investment, but these cannot…