Debt forgiveness in Iceland
Iceland’s expanded debt relief programme in Iceland is targeting too broad a demographic, the OECD has warned.
By the end of 2013, Iceland’s banks will have forgiven almost €250 billion kronur (€1.6 billion) in consumer debt, equal to more than 14 per cent of gross domestic product, according to estimates from the Icelandic Financial Services Association.
Here is a bit more.