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
- 2Russian rumour mill suggests Putin suffering poor health | euronews, world news
- 3Slovenia becomes 11th EU nation to approve gay marriage | euronews, world news
- 4[LIVE] Germanwings passenger jet crashes in southern France, 148 people on board – authorities | euronews, world news
- 5Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 6Indian rapist says women to blame for being sexually assaulted | euronews, world news
- 7International news | euronews, latest international news
- 8Why is Bulgaria the EU’s most unhappy country? | euronews, world news
- 9Greece’s claim for war reparations from Germany explained | euronews, world news
- 10French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 11Exclusive: Tsipras promises meritocracy, transparency for Greece, urges Europe to put people first | euronews, world news
- 12Reaching new heights: Parents in India scale walls to ‘help students cheat’ | euronews, world news
- 13Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 14eurovibes - a selection of Europe’s best music talent
- 15London calling: why home-loving Hungarians are flocking to British capital | euronews, reporter
- 16Handwriting and the digital age, time for change in schools? | euronews, learning world
- 17French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 18Manufacturing jihad – Nicolas Hénin explains what he learned about ISIL | euronews, the global conversation
- 19Romania left red-faced after France-Germany map gaffe | euronews, world news
- 20International breaking news | euronews online world breaking news in video