Iceland cleared of all claims in Icesave dispute
This morning at a hearing in Luxembourg, the EFTA Court rejected all claims made by the EFTA Surveillance Authority against the Icelandic state in the Icesave dispute.
The EFTA Court ruled that Iceland should not be declared in breach of the law as claimed by the EFTA Surveillance Authority.
The Court rejected the claim that Iceland had breached the law or discriminated against depositors when it denied foreign depositors the right to withdraw their funds while Icelandic depositors were allowed to do so. If the EFTA court had ruled against Iceland, Holland and the UK court have pressed further charges against Iceland for up to 2.3 billion euros in damages.
The Courtís ruling does not however alter the fact that the Icelandic bank Landsbanki must continue to pay the UK and the Netherlands to reimburse the deposits both countries have covered since the collapse of the online savings account in October 2008.
This judgement, which concludes the procedures with the EFTA Surveillance Authority in regard to the Icesave case, is final and cannot be appealed.
Red Ice Radio
Birgitta Jonsdottir - Financial & Political Update from Iceland
Birgitta Jonsdottir - Financial War Against Iceland
Latest News from our Front Page
Sweden to give over 8 million euros to Turkey for "refugee deal" - Europe to give three billion euros total
Prime Minister Stefan L√∂fven announced on Sunday that Sweden would contribute to a joint action plan agreed by nine EU nations designed to limit the number of refugees arriving in Europe via Turkey.
The deal came after the German Chancellor Angela Merkel held a surprise summit in Brussels involving the leaders of nine countries including Sweden, France and the UK.
The European ...
Swedish woman raped by "refugee" refuses to report it because she feels sorry for him
Victim sympathized with rapist's "difficult situation"
A Swedish woman who was raped by an Iraqi ‚Äúrefugee‚ÄĚ on a train initially refused to report the incident to police because she ‚Äėfelt sorry‚Äô for her attacker.
The incident occurred on a night train between Ume√• and Sundsvall back in October. The Iraqi refugee was traveling back to Sweden because he was unhappy with the ...
ISIS Oil Trade Full Frontal: "Raqqa's Rockefellers," Bilal Erdogan, KRG Crude, And The Israel Connection
"Effectively, we have been financially discriminated against for a long time. By early 2014, when we did not receive the budget, we decided we need to start thinking about independent oil sales‚ÄĚ -- Ashti Hawrami, Kurdistan‚Äôs minister for natural resources
In June of 2014, the SCF Altai (an oil tanker) arrived at Ashkelon port. Hours later, the first shipment of Kurdish ...
Prosecutors ban Soros Foundation as 'threat to Russian national security'
The Russian Prosecutor General‚Äôs Office has recognized George Soros‚Äôs Open Society Institute and another affiliated organization as undesirable groups, banning Russian citizens and organizations from participation in any of their projects.
In a statement released on Monday, prosecutors said the activities of the Open Society Institute and the Open Society Institute Assistance Foundation were a threat to the foundations of Russia‚Äôs ...
Israeli Colonel Caught with Islamic State (IS) Pants Down
This was definitely not supposed to happen. It seems that an Israeli military man with the rank of colonel was ‚Äúcaught with IS pants down.‚ÄĚ By that I mean he was captured amid a gaggle of so-called IS‚Äďor Islamic State or ISIS or DAESH depending on your preference‚Äďterrorists, by soldiers of the Iraqi army. Under interrogation by the Iraqi intelligence ...
|More News » |