uti.is 01 Oct 14: The Landsbanki bonds agreement: one step… not quite forward but hovering

Extending the maturity of the two Landsbanki bonds, held by LBI, is widely seen as one of the prerequisites for lifting the capital controls in Iceland. An agreement on extension was reached in summer. In order to ensure LBI would pass payments on to creditors the agreement is dependent on exemption from the capital controls. The deadline, originally August 8, expired October 1. The agreement which seemed a step towards lifting the controls is now one foot forward but hovering.


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