Cold comfort: Iceland writes €24,000 off every mortgage

Hard-pressed Irish homeowners will find cold comfort in the news that Iceland is to write off €24,000 from every household’s mortgage.

Voters here are used to pre-election party pledges evaporating into the fog of fantasy but, in the land of frost and fire, politicians have proven they can be true to their word.

In April’s elections, prime minister Sigmundur David Gunnlaugsson said he would introduce sweeping measures to ease the burden of household debt.