Iceland reaches Icesave deal with UK and Holland

The collapse of the bank in 2008 led to the British and Dutch governments having to pay out billions of euros to domestic savers with the bank. Under the deal, revealed by the Dutch government, repayments will begin in 2016 and will be completed by 2046, the Wall Street Journal Reports. Iceland will pay a fixed interest rate of 3% to the Dutch and 3.3% to the UK, although the deal is still subject to the approval of Icelandic legislators. In a referendum earlier this year, the country overwhelmingly rejected a plan to repay the £3.4bn owed to the UK and Holland, with many arguing t...