info.LandsbankiAction.org.gg   30-Mar-2016: Liquidators' Update, see Deloitte site

Britain’s 'gunboat' diplomacy still angers Iceland

Iceland's new finance minister Steingrímur Sigfússon is not looking for a fight with Britain. But like every citizen of this rocky outpost, he thinks the British government's draconian sanctions against his country at the height of the financial crisis last year were grotesque and have made it much harder to clinch a deal to refund IceSave depositors in the UK. . .

Under the proposed IceSave deal, the Icelandic state will cover $5.5bn in deposits for some 200,000 British and 120,000 Dutch savers drawn into Landsbanki's snare at the height of the credit bubble.

Britain and the Netherlands will provide a loan at 5.55pc interest. It must be repaid within 15 years, with seven-year grace period.. .

Whether the IceSave deal will clear Iceland's Althingi – the world's oldest parliament, dating to 930 AD – is another matter. All opposition parties intend to block it, and MPs for the ruling coalition are torn.  22-Jul-09.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5889325/Britains-gunboat-diplomacy-still-angers-Iceland.html