Iceland to hold Icesave referendum on April 9


Reuters

REYKJAVIK — Icelanders will vote on April 9 on a plan to repay around US$5 billion to Britain and the Netherlands to cover debts from the financial crisis, with popular backing key to keeping an economic recovery on track. Iceland’s president triggered a referendum when he refused this month to sign a bill setting out the terms of repayment that had been approved by parliament. It was the second time he had vetoed a bill on the issue and Icelanders rejected an earlier deal after a referendum in March 2010. “The interior minister informed the cabinet this morning that he had decided the referendum will be held on April 9,” the government said in a statement. Britain and the Netherland’s want the cash to cover payments they made to savers who lost money when Icelandic bank Landsbanki collapsed in late 2008.