Agreement for the repayment of Iceland refused to Icesave

Agreement for the repayment of Iceland refused to IcesaveClick to playAdvertising Jonas Margeir Ingolfsson, Iceland's Channel 2 TV: "Iceland is now made in the court case"Continue reading the main storyRelated reportsIceland agreed that the new treatment IcesaveIceland agreed to the terms of the transaction IcesaveLandsbanki managers arrestedIcelanders rejected the latest plan, to repay the United Kingdom and the Netherlands 4 billion euros of losses, in some countries the collapse of the banking system in 2008.
Part of the referendum results showed that 58% of the vote no, 42% supported the plan."The worst option is selected. The vote has been split into two countries," state television said Prime Minister Johanna Sigurdardottir.
This is the second referendum, rejected the settlement agreement, the case will now go to an international court.
Icesave bank Landsbanki under the name of the operation of and investors in the UK and the Netherlands have a savings account that lost 40 million euros (3.5 billion pounds; $ 58 million).
When it collapsed in 2008, the British and the Dutch government has paid 40 million citizens - and Iceland had to decide how to repay the money.
'This resentment
 "Iceland has been in a terrible state of the case," Reykjavik, Helgi Sigurdsson told the Associated Press voters."It has two options - either a lot of people may be poor long-term holding of the vote when he stood slippery.."
Council has supported the agreement, but President Grimsson refused to sign, leading to a referendum.

 Prime Minister Johanna Sigurdardottir: "It is disappointing number" of previous agreements, the implementation of more stringent repayment system is rejected in the March 2010 referendum, 93% of the voters.
Finance Minister Steingrimur Sigfusson seem to exclude a third, trying to convince voters to accept a repayment agreement.
"One can not really agree with this requirement disgusted the entire country," he said.
"I think we are moving from the referendum, which ruled out the very obvious signs of further negotiations. Not trying to use it again."
Now the question will be referred to an international tribunal, the European Free Trade Association Administration. This process may take several years.
A "yes" vote supporters argued that the repayment agreement is the best solution in terms of cost and risk issues in Iceland.
"No" camp said that Iceland has no legal obligation to pay the taxpayer losses of private banks, the transaction will be a heavy burden on the country.
Longer time, lower interest rates
 Under the terms of the transaction is rejected, Iceland will return the money to pay interest of 3.3% to 3% of the UK and the Netherlands to more than 30 years, between 2016 and 2046.
Under the previous proposal, the money is to pay 5.5% between 2016 and 2024 the interest.

 This problem may now be going to court the actual cost to the state, is expected to be considerably less due to more than 4 billion euros, because the government says most of the repayment will come from the sale of the assets of Landsbanki Bank.
The government has said do not expect the cost of more than 50 billion kronor (£ 1.68).
Analysts said that the problem is critical to the recovery of the settlement of Iceland's prospects, because it will restore the country's financial markets, the funds themselves.
Settlement of disputes is also seen as key opportunities for Iceland joining the EU.
Three bank failures in Iceland, within days of each other in October 2008.
Government compensation for depositors in Iceland, but overseas customers face losing all their money.
Iceland and the problem led to diplomatic disputes between the United Kingdom over Iceland's economic recovery, creating uncertainty.