Iceland has won a legal battle over its reponsibilities to British and Dutch savers who lost money when an online savings bank collapsed.
The European Free Trade Association court said Iceland did not have to guarantee minimum levels of compensation when Icesave went bust.
Jóhanna Sigurdardóttir, the country’s prime minister said: “It is quite clear that this judgement will add force to the economic rebuilding in Iceland. Possibly the ratings agencies will revise their results. This will also have a positive influence on the lifting of capital controls.”
The EFTA surveillance authority argued Iceland had a duty under EU law to guarantee a minimum compensation within a time limit to foreign savers.
The ruling may scupper attempts by the British and Dutch governments to claw back money from the Icelandic government.
Both countries ended up stumping up the cash to compensate their citizens.
The ruling by judges in Luxembourg cannot be appealed.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russia unveils ‘straight’ flag, internet responds
- 3Seven reasons why Yanis Varoufakis is now a political legend
- 4Greek crisis: ‘Agreement reached’ after marathon talks
- 5International news | euronews, latest international news
- 6Nasa announces the discovery of an earth-like planet
- 7[LIVE UPDATES] Greek debt deadline looms
- 8Is Saudi Arabia outlawing rainbows for being gay?
- 9Pluto: New Horizons space probe provides closest-ever pictures
- 10French actor Gérard Depardieu ‘a threat to Ukraine national security’
- 11Latest News Bulletin
- 12International breaking news | euronews online world breaking news in video
- 13BREAKING: Formal nuclear deal reached with Iran, says diplomat
- 14Greece votes ‘No’ in overwhelming rejection of bailout proposals
- 15Berlusconi linked with a shock return to government – in Russia!
- 16At least 10 dead in explosion in Turkish town close to border with Syria
- 17Greece clinches deal with eurogroup after marathon talks
- 18‘Imposed’ bailout deal must be implemented, says Greek PM
- 19Israel angry as Iran and West talk up nuclear deal
- 20Varoufakis resigns after Greek referendum