Wednesday, November 17, 2010

Icesave costs Iceland less than expected

A draft of an agreement between Icelandic, British and Dutch authorities on the dispute regarding Landsbanki’s Icesave deposits payback scheme has been completed and presented to parties of interest.

Vilhjálmur Egilsson, managing director of the Confederation of Icelandic Employer (SA), said the draft indicates that the Icelandic state will contribute much less to Icesave than originally expected, possibly ISK 60 billion (USD 532 million, EUR 391 million).

Iceland Review

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