The U.K. and Netherlands plan to sue Iceland to recoup €3.5 billion ($5.7 billion) in lost deposits after the collapse of Iceland’s banking sector. The move follows a referendum in Iceland that voted against a repayment plan.

“It is very important to emphasise that the UK and the Netherlands will begin to get their money back later this year,” Iceland’s Finance Minister Steingrimur Sigfusson said, as quoted by BBC.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.