The Netherlands and Iceland have reached a definitive deal about the paying back of millions of euros lost by savers when internet bank Icesave went bankrupt last year.
The deal gives Iceland 15 years to pay back €1.3bn to the Dutch treasury at an interest rate of 5.5%.
The government has guaranteed all savings up to €100,000, with Iceland picking up the bill for the first €20,000 plus. The government agreed to give Iceland the loan to pay off its share of the debt to Dutch savers.
But a lobby group representing 200 savers who had more than €100,000 invested in Icesave has criticised the deal. It argues that Icelandic nationals are being fully compensated for their losses and says non-Icelandic nationals should not be discriminated against.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation