Iceland can refuse debt servitude

Commentary feature. Olafur Ragnar Grimsson, Iceland’s president, has created uproar with his decision January 2010 to block legislation that would have repaid €3.9bn lost by British and Dutch savers in the failed Icelandic bank Icesave (Landsbanki), triggering a referendum that the government is expected to lose. The author is sympathetic to the dilemma for Iceland.

ESO: Background information: Iceland’s president fights to contain fallout http://www.europeansources.info/record/icelands-president-fights-to-contain-fallout/

ESO: Background information: Iceland’s debt repayment limits will spread http://www.europeansources.info/record/icelands-debt-repayment-limits-will-spread/

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