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You Are Here: Home » Europe » British Government Welcomes Iceland Loan Agreement

British Government Welcomes Iceland Loan Agreement

Posted on admin on October 19, 2009 // Leave Your Comment

125px-Flag_of_the_United_Kingdom.svg11Economic Secretary to the U.K. Treasury, Ian Pearson MP, has welcomed an agreement on repayment to the UK and Netherlands of payments made following the collapse of Landsbanki.

The agreement, signed by the Governments of the UK, the Netherlands and Iceland, includes a sovereign guarantee by Iceland and will pass into law following the passage of a Bill introduced today into the Icelandic Parliament, the Althingi.

Ian Pearson MP said:

“This is an important agreement for all three countries.  It is good news for UK and Dutch taxpayers as it paves the way for the full repayment of funds lent to Iceland to meet its obligations Icesave depositors. For Iceland, the resolution of the Icesave issue is an important step to help restore its standing in international capital markets.”

Source: HM Treasury

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Tags: Althing, Business_Finance, Economic Secretary, Economy of the United Kingdom, HM Treasury, Ian Pearson, Ian Pearson MP, iceland, Icelandic financial crisis, Icelandic parliament, Icesave, Icesave dispute, Landsbanki, Netherlands, politics, The Netherlands, united kingdom

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