The president of Iceland refuses to sign a legislation to reimbuse nearly $5.7bn lost by British and Dutch savers in the failed Icelandic banks
Iceland's president refused on Tuesday to sign into law a bill to repay more than $5 billion lost by savers in Britain and the Netherlands, forcing the issue to a referendum and stirring fresh turmoil in the crisis-hit country. President Olafur Grimsson's rejection of the unpopular bill put aid from international lenders and his country's aspirations to join the European Union in serious jeopardy, analysts said. Canadian Press: Iceland's president refuses to sign legislation to compensate British and Dutch. Iceland Weather Report: The government issues a statement. RNW: The Netherlands' government has reacted angrily to a decision by Iceland's president not to sign a bill enabling repayment of lost deposits to Dutch and British savings account holders.