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Loan Modification

: Mortgage Lender Implode-o-Meter

President's veto of Icesave repayments bill sparks outrage

By Implode-Explode Heavy Industries

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``Icelandic President Olafur Ragnar Grimsson's decision to veto a bill on repaying losses from the Icesave collapse has paved the way for a referendum, prompting Moody's to warn that a "No" vote would downgrade Iceland's ratings... This time around, few expect London or The Hague to sit down again if the vote is 'No' again, meaning the case could end up in a European Free Trade Association (EFTA) court... Although Icelanders have appeared far more favourable to the latest deal, with a poll Monday showing 58 percent in favour, voices have also been raised against it.''

Full post as published by Mortgage Lender Implode-o-Meter on February 25, 2011 (boomark / email).

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