Iceland to hold referendum on compensation

Pressure was put on President Olafur Ragnar Grimmson when a petition, signed by 60,000 of the island's 300,000 population, requested the Government refuse to use taxpayers' money to bail out bankers. The tiny island country has been asked to repay a total of $5bn to the Dutch and British governments. When Landsbanki collapsed during 2008's financial crisis, investors in its Icesave brand, marketed in Britain and The Netherlands, had to claim compensation. The country's parliament had approved the repayment of the loan, but a petition submitted yesterday caused President Grimmson to...