Last week, Iceland’s president refused to sign a controversial bill to repay a $5 billion debt to Britain and the Netherlands, incurred when three Icelandic banks went belly up in October 2008. Now, the public may get to vote in a referendum.
Greek debt trouble weighs on finance ministers (AP via Yahoo! News)
Worries over Greece’s swelling debt will dominate two days of talks between European Union finance ministers that started Monday, as the euro fell to a ten-day low against the dollar.
Zimbabwe minister urges resolution of debt crisis (AFP via Yahoo! News)
Zimbabwe’s enormous foreign debt is hampering efforts to mend the economy, Finance Minister Tendai Biti said, urging the government urgently to resolve the debt crisis.
Thomson Swaps Settlement May Snarl European Debt Restructurings (Bloomberg)
Oct. 9 (Bloomberg) — Debt restructurings in Europe may get tougher to complete after creditors that agreed to take part in the reorganization of Thomson SA were hampered in how they can settle credit-default swaps on the debt.
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