Key Interest Rate in Iceland Remains at 4.25 Percent

centralbank_ipaThe Central Bank of Iceland decided last week to keep the bank’s interest rates unchanged. The deposit rate will remain 3.25 percent, the maximum bid rate for 28-day certificates of deposit (CDs) 4.0 percent, the seven-day collateralized lending rate 4.25 percent, and the overnight lending rate 5.25 percent.

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Complaint Regarding Icelandic Authorities Sent to ESA

centralrvk_psThe Interest Association of Households and the Association of Debtors have along with approximately 1,000 individuals sent a formal complaint to ESA, the EFTA Surveillance Authority, because of alleged violations by the Icelandic government and administration of European laws regarding currency-indexed loans and indexation.

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Iceland Eruption: Airport Closure Justifiable

eyjafj-eruption-dark-cloud_psThe ash emitted by Icelandic glacier/volcano Eyjafjallajökull when it erupted one year ago was dangerous to airplanes and therefore the extensive closure of airports was justifiable, according to a study conducted by Sigurdur R. Gíslason, an earth scientist at the University of Iceland, and Susan Stipp from the University of Copenhagen.

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