“Iceland was entitled to refuse to pay immediate deposit guarantees to savers with failed online bank Icesave in Britain and the Netherlands, a European court said Monday. The ruling is the latest twist in a bitter dispute which has clouded negotiations on Iceland’s ambitions to become a member of the European Union. Deals to use tax-payer money to refund the Icesave debt have been twice rejected in referendums so the assets of failed parent Landsbanki are the only way Iceland can settle the row.”
formerly http://www.rawstory.com/rs/2013/01/28/court-iceland-doesnt-need-to-repay-uk-and-dutch-depositors/
