BUSINESS BRIEFING / FINANCIAL CRISIS
TIMES WIRE REPORTS
Iceland’s parliament passed a bill to repay Britain and the Netherlands the $5.7 billion borrowed to compensate savers in those countries who lost funds in the collapse of an Icelandic Internet bank last year.
Under the measure, Iceland will repay the money over a nine-year period beginning in 2016. Iceland must settle claims over the failure of the bank before it can receive $4.6 billion in promised bailout funds from the International Monetary Fund and Nordic countries.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
