Icelandic taxpayers are not liable to finance compensation of an estimated 350,000 British and Dutch citizens who lost their savings in the wake of the collapse of the country's banking sector in 2008, following a landmark court ruling.
The Court of the European Free Trade Association (EFTA), of which Iceland is a member, ruled on Monday (28 January) that Iceland had not broken the terms of the EU's deposit guarantee scheme legislation.
By ruling that deposit guarantee legislati...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.