Page last updated at 13:08 GMT, Tuesday, 19 January 2010

Icesave referendum set for 6 March

Icesave's parent bank, Landsbanki, collapsed in 2008

Iceland has confirmed it will hold a referendum on 6 March on plans to repay the UK and the Netherlands debts owed from the collapse of Icesave bank.

The country's parliament voted for a referendum earlier this month after President Olaf Ragnar Grimsson vetoed the Icesave bill.

The bill to repay 3.8bn euros ($5.4bn; £3.3bn) was passed in December.

It has proved unpopular with the Icelandic public and could be rejected in a public vote, recent polls suggest.

Opponents say the repayment plan forces Icelandic taxpayers to pay for bankers' mistakes.

If the bill is rejected, $7bn worth of financing from the International Monetary Fund and other Nordic countries could come under threat.

Icesave collapsed in October 2008, affecting thousands of UK savers who held deposits with the bank.

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The Independent Bank rate committee 'not fit for purpose' - 5 hrs ago Iceland To Hold Icesave Referendum On March 6 - 6 hrs ago
New StatesmanExclusive: This MPC is not fit for purpose - 15 hrs ago
Sydney Morning Herald Iceland to hold Icesave vote on March 6 - 16 hrs ago
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