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.
Copyright © 2014 euronewsMore about:
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Iraq: Baghdad rally held against US ‘occupiers’ | euronews, world news
- 3Now is ‘right time’ for Catalonia independence vote, says Mas | euronews, world news
- 4Vatican rocked by another paedophilia scandal | euronews, world news
- 5Two container ships collide on Egypt’s Suez Canal | euronews, no comment
- 6British Muslims’ message to ISIL: Not in my name! | euronews, world news
- 7Ukraine: Donetsk rebel weapons factory blows up | euronews, world news
- 8Sweden becomes first European nation to recognise Palestine | euronews, world news
- 9Algeria: ISIL offshoot releases video threatening French hostage Hervé Gourdel | euronews, world news
- 10Emma Watson threatened with naked photos leak after UN equality speech | euronews, world news
- 11How nasheeds became the soundtrack of jihad | euronews, world news
- 12Iceland volcano ‘pollutes Paris’ | euronews, world news
- 13Learning through “serious games” | euronews, learning world
- 14International tv news | euronews: European and International tv news bulletin
- 15euronews speaks to Ban Ki-moon ahead of key UN and climate change talks | euronews, the global conversation
- 16Ebola: Six new suspected cases in Spain | euronews, world news
- 17European Union News | euronews: latest breaking news and headlines about European Union
- 18Thousands ‘evade’ Ebola lockdown in Sierra Leone | euronews, world news
- 19Mike Tyson: ‘You learn humbleness when you get older in life’ | euronews, the global conversation
- 20US delivers technical aid to Ukraine but warns over security | euronews, world news