Iceland clinches Icesave deal with Dutch, UK

Posted 09/12/2010 - 18:25 by VikingRaider

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2010-12-09 08

The Dutch Finance Ministry said on Thursday that Iceland, Britain and the Netherlands had reached a deal on repayment of about $5 billion owed by Iceland to the other two countries for deposits from failed bank Icesave.

Iceland will pay a fixed interest rate of 3.0 percent on the money it owes to the Netherlands, and will pay a rate of 3.3 percent on the money owed to Britain, the Dutch Finance Ministry said in a statement.