Stat of the day: £3.1bn

The amount of compensation due to be paid out to savers in the UK and the Netherlands, after Iceland voted to repay the money lost during the Icesave bank crash.

by Elizabeth Anderson
Last Updated: 09 Oct 2013
After pressure from the British Government for Iceland to repay the money Britons lost when Icesave went into meltdown, Iceland has voted to give the money back.

Last year, president Olafur Grimsson called for a referendum on whether citizens thought the money should be repaid. Unsurprisingly, the answer was ‘no.’ But yesterday, 44 members in the 63-seat parliament voted in favour of the repayment plan which will see the UK and the Netherlands reimbursed for the £3.1bn lost to it when Landsbanki, which owned the Icesave online accounts, crashed.

‘It's the right thing to do,’ foreign minister Ossur Skarphedinsson said ahead of the vote. A very upright sentiment – although many people are still opposed the move. Last week, an online petition with more than 32,000 signatures urged the president to veto the bill. You can’t please everyone, we suppose...

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