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
Kanye West says in his VMA 2015 speech that he's running for president in 2020
'And yes, as you probably could have guessed by this moment, I have decided in 2020 to run for president.'
Kanye West received the Michael Jackson Video Vanguard Award at tonight's MTV Video Music Awards, and he closed his acceptance speech by announcing he's running for president in 2020. Yes, really!
The segment started with a bang when West was handed his ...
White students in Australia rejecting "multicultural" agenda, this is a problem apparently
According to Dr Christina Ho from Sydney’s University of Technology, White Students have not obeyed the command to become “multicultural”.
White Students have very rarely mixed with non-White groups, and Dr Ho thinks that this is a problem which must be solved.
“Schools are becoming more segregated in terms of both class and ethnicity,” she told the Sydney Morning Herald. “More and more ...
Sweden: The De-balling of the Vikings
For some reason, the deliberately-injected moral and mental cancer known as 'liberalism', aka 'progressivism' has always seemed to metastasize faster in the Nordic countries, particularly Scandinavian ones. This phenomenon is also observable among the American descendants of Scandinavian immigrants in places like Minnesota and Wisconsin.
The hypothesis of this reporter is that the innate, perhaps even genetic, altruism and human ...
New Monsanto Spray Kills Bugs by Messing With Their Genes
In a fascinating long piece in MIT Technology Review, Antonio Regalado examines the genetically modified seed industry's latest blockbuster app in development—one that has nothing to do with seeds. Instead, it involves the industry's other bread-and-butter product: pesticide sprays. But we're not talking about the poisonous chemicals you convinced your dad to stop dousing the lawn with. The novel sprays ...
Obama to speak with Jewish groups on Iran deal
President Barack Obama is using a Friday webcast to try to allay concerns from Jewish communities about the nuclear agreement with Iran.
Obama will deliver remarks about the agreement and take questions from participants. The webcast is being organized by two major Jewish organizations that have held similar events with Israeli Prime Minister Benjamin Netanyahu and Energy Secretary Ernest Moniz.
The Israeli ...
|More News » |