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Hey big spender!

By Iceland Review

Meanwhile, the daily market bulletin of Icelandic bank Landsbanki reported yesterday that the level of short term indebtedness of Icelandic households, as evidenced by bank overdrafts, was back to previous high levels after the wave of mortage refinancings that took place over the past year. The total amount of overdraft in Icelandic banks is now ISK 60 billion out of a total household debt of ISK 390 billion. On average, every Icelander now carries debt of ISK 1,3 million (approx. USD 20 thousand).

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