Forced Auctions in Iceland Postponed by Five Months Skip to content

Forced Auctions in Iceland Postponed by Five Months

The Government of Iceland announced yesterday its decision to extend the permit for postponing the completion of forced auctions by five months, or until March 2011. The extension was supposed to expire at the end of this month.


From central Reykjavík. Photo by Páll Stefánsson.

Minister of Interior Affairs Ögmundur Jónasson announced the decision during discussions on the government’s reactions to the situation of indebted households in the Althingi parliament, reports.

In an oral report on the situation of households, Prime Minister Jóhanna Sigurdardóttir said nearly 300 individuals who are about to lose their homes will be contacted. Solutions will be discussed with them to prevent their homes from being auctioned off, reports.

Sigurdardóttir said she is concerned about the forced auctions, adding: “In Iceland no one should have to be homeless because of debt problems.”

The PM also mentioned the protests that have taken place in the past days, saying they have touched her deeply. She stated she understands the anger and discontent which sparked them.

Yesterday, a committee of five ministers and representatives of the opposition—of the Progressive Party and The Movement but not the Independence Party—discussed possible measures to ease the debt problems of homeowners.

Click here to read more about these problems and here to read more about the series of protests.

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