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

Iceland to Hold Referendum on Law to Repay $5 Billion U.K., Dutch Deposits

Iceland’s President Olafur R. Grimsson refused to sign a $5 billion accord struck in December with the U.K. and Netherlands to repay foreign depositor losses and said the bill must instead be put to a referendum.

Grimsson, whose announcement comes after 44 of parliament’s 63 lawmakers passed the bill, said he was responding to popular demand for a plebiscite after more than 42,000 of Iceland’s 318,000 inhabitants signed a petition asking him to block the accord . . .

It is unclear whether the British and Dutch will be willing to resume talks should the bill be voted down in a referendum, Finance Minister Steingrimur J. Sigfusson told reporters shortly after Grimsson announced his decision. Sigfusson said he plans to contact his counterparts in the two European Union members later today. 20-Feb-11.