Iceland Will Vote On Foreign Debt Repayment

Jan. 19, 2010, midnight

Voters will decide March 6 on their government's repayment plan to Dutch and British creditors, according to an offical announcement this week. About one-fourth of voters signed a petition opposing Parliament's December 31 repayment bill, and President Olaf GRIMSSON has refused to sign it, instead calling a referendum. London and The Hague paid more than 5.4 billion US dollars to nationals with accounts in two Icelandic banks in late 2008. Account-holders were unable to access their savings, which were guaranteed by the Icelandic government, for up to two months after October 8.

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