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 © 2015 euronewsMore about:
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2The power of the pen: Cartoonists worldwide react to the Charlie Hebdo attack | euronews, world news
- 3Immigration, racism in sport and the rise of extremism – Cantona shares his views | euronews, interview
- 4[LIVE] 12 dead after gun attack at French satirical weekly Charlie Hebdo | euronews, world news
- 5[LIVE NOW] Massive unity rally in Paris, with similar marches in other French cities | euronews, world news
- 6Muslim groups fear backlash after terrorist attacks in Paris | euronews, news
- 7[LIVE] Confusion over reports two killed in Paris shootout, as police close in on Charlie Hebdo suspects | euronews, world news
- 8“ISIL is the baby of George W Bush” | euronews, news
- 9Medieval Bruges is to get its own underground beer pipeline | euronews, world news
- 10Almost four million turn out for unity rallies across France | euronews, world news
- 11International breaking news | euronews online world breaking news in video
- 12eurovibes - a selection of Europe’s best music talent
- 13NewsWires : euronews : the latest international news as video on demand
- 14A defiant Charlie Hebdo: it’s not the front page the terrorists would’ve wanted | euronews, world news
- 15euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 16Key questions around the Charlie Hebdo killings go unanswered | euronews, world news
- 17Getting to know Sir Tony and “the world’s greatest tenor” | euronews, musica
- 18HarperCollins wipes Israel off the map | euronews, world news
- 19International tv news | euronews: European and International tv news bulletin
- 20Charlie Hebdo: Israeli paper deletes women from Paris march | euronews, world news