Guardian: 27 Sep 13: Icelandic bank says it cannot meet £1.5bn debt repayment schedule

Category: Newspaper & Media Reports

New Landsbanki, the state-owned Icelandic bank forged in the midst of the 2008 Icesave scandal, has asked for more time to repay a £1.5bn bond that is threatening to destabilise Iceland's recovering economy.

At a meeting on Friday in London with creditors to the old bank, which include the British and Netherlands governments, Icelandic negotiators are understood to have said New Landsbanki will go bust if it is forced to stick to a steep repayment schedule, in euros, from the start of next year


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