Iceland's President Olafur Ragnar Grimsson refused to sign legislation that would put taxpayers on the hook for $5 billion in banking losses. Yesterday, he won a record fifth term in office.
Why should Iceland compensate unwise UK savers or stump up the money that UK politicians spent trying to buy votes?
03/10/2010 05:00 am
In a nationwide referendum Saturday, more than 90 percent of voters have resoundingly rejected a $5.3 billion plan to pay off Britain and the Netherlands for debts spawned by the Iceland financial crisis.
03/07/2010 11:01 am
While Greece battles its debt crisis, Iceland – where major banks collapsed in the wake of the global financial meltdown – is gearing up for a referendum on whether its taxpayers will shoulder the burden of paying back billions of dollars of debt.
02/17/2010 03:17 pm
The Iceland financial crisis could intensify after a presidential veto of a bill to repay Britain and the Netherlands the billions they lost after Icelandic banks collapsed. The issue now goes to referendum – and could affect an EU membership bid and economic aid.
01/06/2010 10:24 am
The country's banks expanded greatly during boom years and now can't roll over the debt.
10/24/2008 01:00 am