Icelandic parliament votes through new Icesave deal

16th February 2011, Comments 0 comments

Iceland's parliament on Wednesday voted for a third and last time to approve a new deal reached with Britain and the Netherlands to repay money lost in the collapse of the Icesave bank.

Parliament passed the new Icesave bill with 44 votes in favour, 16 opposed and three members of the 63-seat house abstaining.

The deal, which still needs to be approved by President Olafur Grimsson, paves the way for the small Nordic country to repay in full the 3.9 billion euros (5.3 billion dollars) which Britain and the Netherlands spent compensating around 340,000 of their citizens hit by Icesave's collapse in October 2008, at the height of the financial crisis.

© 2011 AFP

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