Iceland’s PM refuses to sign bill to repay $5bn

According to the BBC, Iceland’s president has vetoed a bank repayments bill. According to the article a quarter of the population of Iceland signed a petition to not sign the bill because they perceive the repayment to be a bailout of the failed Icelandic banks by taxpayers.
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News: Iceland’s interest is 11%

The Globe and Mail’s Report on Business highlights the telling difference between those that succumb to sovereign insolvency and those who can afford to stave it off – While America, Canada, and most of Europe have near-zero central bank interest rates, Iceland’s interest rate is down from a whopping 18% to a hardly paltry 11%.
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