Icelanders Reject Bank Bailout
Become a member: Subscribe
NTS Headlines
Headlines by Category
Headlines by Year
Solari’s Building Wealth materials are organized to inspire and support your personal strategic and financial planning.
Building Wealth
This 6-pillar curriculum teaches the basic literacy we need to be personally and financially successful and to do so in a manner in which together we evolve a culture that supports the emergence of an advanced human civilization.
Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
Connect with the wider network of like-minded Solari subscribers using our in-house social media platform, Solari Connect.
No posts
Icelanders Reject Bank Bailout
By Anthony Faiola
Icelanders this weekend resoundingly rejected a plan to reimburse overseas depositors after the failure of an online Icelandic bank, a rare public referendum on the repayment of a foreign liability that could fuel further concerns over debt problems in Europe.
A whopping 93 percent of Icelanders rebuffed a government push to reimburse Britain and the Netherlands $5.3 billion from the October 2008 collapse of an Icelandic Internet bank. The failure led Britain and the Netherlands, the two nations where the bank had foreign depositors, to step in and partially pay back billions of euros lost by their citizens, who were lured in by the bank’s high interest rates.
The vote on Saturday, with near-final results released Sunday, captured widespread rage in Iceland over years of banking-sector excess that resulted in a financial meltdown at the height of the global financial crisis.
Continue reading Icelanders Reject Full Repayment to British, Dutch Caught in Bank Collapse
Related article:
Customers Face Anxious Wait Over Fate of Icesave Accounts
Guardian.co.uk (8 Oct 08)
