Outrage over Iceland plan to reimburse the losses of foreign investors in bank collapse using taxpayer money -- 12,000 euros per citizen
Almost a quarter of voters in Iceland have signed a petition against plans to repay money lost by foreigners when an Icelandic online bank collapsed. The petition urges the president to veto the bill that allows the move, and calls for a referendum on the issue. Iceland's parliament has approved the plans to reimburse 3.8bn euros (£3.4bn) lost by Dutch and British savers when the Icesave scheme failed in 2008. Many taxpayers say they are being made to pay for the bank's mistakes. The compensation amounts to some 12,000 euros for each citizen on the island nation of 320,000.