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.


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