In These New Times

A new paradigm for a post-imperial world

Wonders at the credit terms for the Icesave deal

Posted by seumasach on July 4, 2009

News Frettir

29th June, 2009

Wonders at the credit terms for the Icesave deal. The EU has granted countries in recessions loans in recent years at lower interests.

Elvira Mendez, specialist in European Law at the University of Iceland, wonders at the rates offered in the deal that was made with Britain and Holland because of the Icesave commitments. This was reported in the news on the National Radio.

Elvira has compared the Icesave deal to other deals made by the EU in recent years, but the union has granted states that are going through recession, both in and outside of the union, financial help. In those deals the interest rates have been about 3,5% but the interest rates on the Icesave loans are 5,5%.

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