30-Mar-2016: Liquidators' Update, see Deloitte site

Iceland agonises over compensation deal

REYKJAVIK — Iceland's government is battling to convince lawmakers to approve a deal to pay back billions of euros to the British and Dutch governments in a row which threatens its bid to join the EU.

After London and The Hague compensated hundreds of thousands of British and Dutch savers who lost money in the collapse of the online bank Icesave, Reykjavik reached an agreement in June under which Iceland would repay 3.8 billion euros to Britain and the Netherlands by 2023.

The Icelandic parliament, the Althing, has to give its green light for the deal to go through, but amid heated debate the government may struggle to obtain the majority needed.

The accord is highly unpopular among the public and several members of the left-wing majority have threatened to side with the opposition to thwart the deal.  11-Aug-09.