“Iceland will honor its obligations”

Gylfi Magnússon, Iceland’s Minister for Business Affairs, reiterates in an Interview with the German newspaper, die Welt, that the Icelandic Government will honour its legal obligations abroad; the assets of Kaupthing Edge in Germany will almost certainly be sufficient for paying off depositors.

However, from the point of view of Icelandic taxpayers the the problem with the Landbanki accounts in the UK and the Netherlands, is bigger. It seems now inevitable that when all accounts have been settled, some part of the Icelandic debts will be paid by the Icelandic government and then, of course, also by the Icelandic taxpayers. 

From Iceland.org


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