Icelanders sign up against plan to pay off banking debt
Rahvusvahelised uudised 04 Jan 2010  EWR
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Deutsche Welle
Iceland's president is under pressure to sign a law that would pay overseas compensation on behalf of one of the country's failed banks. Voters have signed a petition calling on him not to do so.

Icelandic voters have called on their president to veto a parliamentary bill to pay off a 3.8 billion euro ($5.4 billion) banking debt.

About a quarter of the electorate has signed a petition asking President Olafur Ragnar Grimsson to hold a referendum on the matter.

Under the terms of the compensation plan Iceland would have to repay 3.8 billion euros, or 12,500 euros per citizen, of the money lost when the island nation's banking system collapsed.

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