Image uploaded from a quicklink (Image by Unknown Owner) Details DMCA | Icelanders have rejected a government plan to compensate the UK and the Netherlands for losses incurred when an Icelandic bank collapsed.
According to media reports, after 70% of ballots in yesterday's (9 April) referendum had been counted, 57.7% of voters had said 'No' to the Icesave bill. Special Investigation Commission (SIC) selected by the Icelandic parliament issued an extensive report on the Icelandic Banking Collapse. The focus of the investigation is primarily on the three main banks, Glitnir, Kaupthing and Landsbanki. The report states that the Icelandic Government, Central Bank and the Financial Supervisory Authority showed much negligence when signs of difficulties appeared. Furthermore, the report illustrates how the majority owners of the banks received extensive loans and in some cases without sufficient collateral. |