Icelandic IceSave Referendum, 2011
An Icelandic Icesave Referendum was on the April 9, 2011 ballot in Iceland, it was defeated.[1] This measure represented the second time Icelanders voted on the Icesave deal, as a different deal had been rejected the previous year. Under the proposed measure, approximately €4 billion euros would have been repaid to London and approximately €1.32 billion euros would have been repaid to the Hague for their losses from the Icesave bank failure. The Icelandic Parliament approved the repayment plan to Britain and the Netherlands which would have given Icelanders until 2046 to repay the entire sum at a lower interest rate than the previous deal.[2] 38,000 residents signed a petition to send the plan to a national vote.[3] The Icelandic President vetoed the bill, sending the question to the voters.[4]
Text of measure
The official ballot language asked:[5]
| “ | Law number 13/2011 allows for the Minister of Finance to confirm the contract which was inscribed in London on the 8th December 2010, on responsibility for the Depositor and Investors’ Protection Fund to re-pay the British and Dutch states for the cost of the minimum insurance amount to depositors in branches of Landsbanki Islands hf. in the United Kingdom and the Netherlands and the payment of the balance and interest on those obligations. The law was passed by Althingi on the 16th February 2011 but the President of Iceland declined to pass it. Should law number 13/2011 remain in force?
Possible answers are: Yes, it should remain in force. No, it should be repealed. [6] |
” |
See also
External links
Footnotes
- ↑ Winston-Salem Journal, "National / World Briefs: Hawaii company to be questioned in blast," April 11, 2011 (dead link)
- ↑ EU Observer, "Iceland's president triggers second referendum on Icesave deal," February 21, 2011
- ↑ Bloomberg, "Icelanders to vote on Icesave on April 9," February 25, 2011
- ↑ EU Observer, "Iceland's president triggers second referendum on Icesave deal," February 21, 2011
- ↑ Ice News, "Icesave referendum ballot question revealed," March 8, 2011
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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