Thursday, February 25, 2010
Should taxpayers pay for bankers’ mistakes?
Talks to agree how Iceland will repay more than $5bn of debt it owes to the UK and the Netherlands have broken down without agreement. In a statement, the UK and Dutch governments said they were "very disappointed that despite all the efforts over the past year and a half, Iceland is still unable to accept our best offer on the Icesave loan". Iceland plans to hold a referendum on the Icesave repayment on 6 March, but the government was hopeful it could reach a different deal ahead of that.