Iceland agrees to pay back $5bn

first_img Iceland agrees to pay back $5bn Thursday 9 December 2010 8:35 pm KCS-content whatsapp Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrapcenter_img whatsapp Share Tags: NULL ICELAND has reached a deal to repay deposits from its failed bank Icesave to the UK and Dutch governments, the negotiating teams said yesterday. Iceland will start the bulk of around $5bn (£3.17bn) of repayments in 2016 and is due to complete in 2046 – a more gradual payment scheme than previously offered by the UK and the Netherlands. The country will pay a fixed interest rate of three per cent on the money it owes to the Netherlands, and will pay a rate of 3.3 per cent on the money owed to Britain.The rates are an improvement on a previous deal of 5.5 per cent interest, which was voted down by Icelandic voters in a referendum in March. Another clause ensures the repayments never exceed five per cent of total government revenue.“This is significantly more advantageous to Iceland and that will play a role in the public perception of it,” US attorney Lee C Buchheit, who headed Iceland’s negotiating team, said.The agreement, which could also pave the way for better relations between the various countries and may help to speed up Iceland’s membership negotiations with the European Union, also still needs political approval. The Icelandic government said yesterday it will vote on the new proposals soon.The UK Treasury said in a statement that “mutually satisfactory closure of this issue will mark a new chapter in UK-Iceland relations”. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldlast_img

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