Special report: Iceland

Debt heat

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  • >For the Icelandic government the political stakes are high, but the financial implications could be bleak.

    Not really as the reprioritisation seems to be sticking, which means Landsbanki looks to be on course to repay everything that would have fallen under the ~20k euro guarantee. So it's just the interest that the government would be on the hook for. Annoying, not bleak.

    I'm assuming that they're not being pursued under non-discrimination rules regarding the 100% guarantee of all domestic deposits. That would be bleak.

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  • morally one may have many views on the crash of 2007-2008, but the issue here is legal and what comprised deposit guarantee scheme. this issue needs clarity for good or bad

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