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No Reason to Panic

Minister of Economics and Commerce Gylfi Magnússon emphasizes that all accounts in Icelandic banks and savings banks are guaranteed and there is no reason to panic and liquidate accounts. reports this.

Gylfi Magnússon.

The government will not act for now in relation to the ruling of the Supreme Court regarding indexation.

The Minister presented an oral report regarding the effects of the ruling. He said that the status of creditors has completely changed because their loans are on average cut in half. He went on to say that this is not acceptable and it cannot be tolerated for a part of the Icelandic people to get a much better deal on their loans than everybody else.

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