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...

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Could coronavirus lead to gender equality?

Opinion: Enforced home-working and home-schooling could change the lives of working women, and the business...

Mike Ashley: Does it matter if the public hates you right now?

The Sports Direct founder’s response to the COVID-19 pandemic has drawn criticism, but in the...

4 films to keep you sane during the coronavirus lockdown

Cirrus CEO Simon Hayward shares some choices to put things in perspective.

Pandemic ends public love affair with Richard Branson et al

Opinion: The larger-than-life corporate mavericks who rose to prominence in the 80s and 90s suddenly...

The Squiggly Career: How to be a chief strengths spotter

When leading remotely, it's more important than ever to make sure your people spend their...

"Blind CVs don't improve your access to talent"

Opinion: If you want to hire socially mobile go-getters, you need to know the context...