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| Version 0 | Version 1 |
|---|---|
| Iceland to repay £2bn UK savings | Iceland to repay £2bn UK savings |
| (about 6 hours later) | |
| Iceland has agreed to repay British and Dutch government money paid out to depositors following the collapse of the savings bank Icesave. | Iceland has agreed to repay British and Dutch government money paid out to depositors following the collapse of the savings bank Icesave. |
| The UK had loaned Iceland £2.3bn last year to reimburse UK savers with Icesave, after the entire Icelandic banking system was nationalised. | The UK had loaned Iceland £2.3bn last year to reimburse UK savers with Icesave, after the entire Icelandic banking system was nationalised. |
| The savings of 300,000 retail depositors who held accounts in Britain with Icesave were affected. | |
| The incident sparked tensions between London and Reykjavik at the time. | The incident sparked tensions between London and Reykjavik at the time. |
| Britain used anti-terrorism laws to freeze the assets of Icelandic banks, which had collapsed in the wake of financial crisis. | Britain used anti-terrorism laws to freeze the assets of Icelandic banks, which had collapsed in the wake of financial crisis. |
| British savers with Icesave were refunded in full at the time by the UK Treasury. | British savers with Icesave were refunded in full at the time by the UK Treasury. |
| 'Good news' | 'Good news' |
| Following drawn-out negotiations, Iceland said it would now repay the £2.3bn plus interest. | Following drawn-out negotiations, Iceland said it would now repay the £2.3bn plus interest. |
| The UK Treasury said the deal was a positive step forward for relations between the countries. | The UK Treasury said the deal was a positive step forward for relations between the countries. |
| "This is good news for UK taxpayers and good news for Iceland," a Treasury spokesman said. | "This is good news for UK taxpayers and good news for Iceland," a Treasury spokesman said. |
| "The government welcomes Iceland's commitment to recognise its obligations under the EC Deposit Guarantee Scheme to repay depositors in Icesave." | "The government welcomes Iceland's commitment to recognise its obligations under the EC Deposit Guarantee Scheme to repay depositors in Icesave." |
| However, British local authorities and bodies will continue to wait to get their money back, as today's agreement relates only to retail depositors. | However, British local authorities and bodies will continue to wait to get their money back, as today's agreement relates only to retail depositors. |