Submitted by Constantine on Thu, 01/07/2010 - 03:05.
Iceland’s president has refused to sign a controversial bill to repay $5bn (£3.1bn) to the UK and the Netherlands.
President Olafur Ragnar Grimsson said he would instead hold a referendum on the bill, following public protests.
On Saturday, the president received a petition calling for the bill to be vetoed, signed by almost a quarter of the country’s population.
Campaigners against the bill say that the Icelandic public are being forced to pay for the mistakes of banks. The total compensation package equates to about 12,000 Euros ($17,300; £10,800) per Icelandic citizen. Read more »