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Nations in talks on Iceland deposits dispute

Nations in talks on Iceland deposits dispute

Icelandic, British and Dutch officials will meet in The Hague on Friday to discuss a dispute over compensation for funds lost when Iceland's banking system collapsed.
Officials will "discuss the current situation and exchange information," Icelandic Prime Minister Johanna Sigurdardottir's office said in a statement.
Iceland owes Britain and the Netherlands $5.7 billion for money they used to compensate savers in Icesave, an internet bank that collapsed with its parent Landsbanki in Oct. 2008.
Iceland's parliament agreed legislation late last year that set terms for repaying the money, but the country's president refused to sign the so-called Icesave bill. His action triggered a national referendum, which is scheduled for March 6.
Opinion polls suggest Icelanders will vote against the bill, with opponents angry that Britain and the Netherlands succeeded in imposing tougher terms on repayment.
That has led the Icelandic government to seek renegotiation with Britain and the Netherlands to solve the dispute.
The statement from Sigurdardottir's office said the talks would be attended by Iceland's Minister of Finance Steingrimur J. Sigfusson, Dutch Finance Minister Wouter Bos and British Financial Services Minister Paul Myners. British Treasury chief Alistair Darling is currently at the World Economic Forum in Davos, Switzerland.
Iceland's delegation also includes members from the country's two main opposition parties.


Updated : 2021-08-06 02:01 GMT+08:00