Iceland faces softer repayment terms

Article reports that the United Kingdom has cleared the way to soften Iceland’s repayment terms for the £3.4bn lost in the failed Icesave online bank, amid fears that the original deal would be resoundingly defeated in a referendum in Iceland in March 2010.

ESO: Background information: Iceland seeks to reopen talks on Icesave http://www.europeansources.info/record/iceland-seeks-to-reopen-talks-on-icesave/

Iceland: Ministry of Finance: Press Release, No.5, 2010 (15.2.10): The Icesave issue discussed in London http://eng.fjarmalaraduneyti.is/news/nr/12901

---