Icelanders reject debt deal over collapsed bank

Voters in Iceland have resoundingly rejected a €3.9bn plan to pay back Britain and the Netherlands for debts caused by the collapse of an Icelandic Internet bank.

Voters in Iceland have resoundingly rejected a €3.9bn plan to pay back Britain and the Netherlands for debts caused by the collapse of an Icelandic Internet bank.

Returns released today with more than 98% of ballots counted show 93% of voters said “no” in yesterday’s referendum, and just 1.8% voted yes. The rest were blank or spoiled ballots.

The result reflects Icelanders’ anger at bankers and politicians as the tiny island nation struggles to recover from a deep recession.

Britain and the Netherlands want to be reimbursed for money they paid citizens with deposits in Icesave, an internet bank that collapsed in 2008 along with most of Iceland’s banking sector.

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