Sunday 28 November 2021

Netherlands warns Iceland over Icesave

The Netherlands has warned Iceland to keep to the compensation deal agreed for people who lost savings when internet bank Icesave went bankrupt, foreign minister Maxime Verhagen has told his Icelandic counterpart.

It is ‘absolutely necessary’ that Iceland approves the deal, Verhagen said in a foreign affairs ministry statement.
The Netherlands lent Iceland €1.3bn to repay Dutch savers, but the repayment may now be under threat. Some Icelandic MPs are unhappy at the terms of the deal and are threatening to vote against it.
European Union
‘A solution to the problems round Icesave could lead to the speedy handling of Iceland’s request to join the European Union,’ Verhagen said. ‘It could show that Iceland takes EU guidelines seriously.’
The Icelandic parliament voted earlier this week in favour of joining the European Union.
Dutch savers have been fully compensated for their losses up to €100,000.

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