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Wed 01 Jan 2010Fresh turmoil for Iceland as president vetoes bank debt law
ICELAND’S PRESIDENT has refused to sign legislation to reimburse Britain and the Netherlands for nearly €4 billion lost in a failed Icelandic bank, threatening to plunge the crisis-hit country into a fresh round of political and economic turmoil.
Olafur Grimsson, president of Iceland, yesterday said the legislation, narrowly passed by the country’s parliament last week, should be put to a national referendum, amid overwhelming public opposition to the bill.
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