Dutch minister gets tough with Iceland

10th April 2011, Comments 0 comments

Dutch Finance Minister Jan Kees de Jager has responded to the rejection by Icelandic voters of a deal to compensate victims of the Icesave fiasco. “I’m very disappointed that the Icesave agreement has been rejected. That’s not good either for Iceland or the Netherlands,” he commented on Sunday.

However, he added that the time for negotiations was over. “Iceland must honour its commitment to pay us back. It’s now up to the courts to decide the case.”

Iceland is facing economic and political chaos now that voters have for the second time rejected the deal in a referendum. The Icesave internet bank, part of the now bankrupt Landsbanki, left behind huge debts in Great Britain and the Netherlands where it was popular with both private individuals and local councils. Under the terms of the deal, Iceland was to pay 3.8 billion euros in compensation by 2046.

Dutch savers are demanding Mr De Jager take the Icelandic government to court.


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