Price Indexation: Government Won’t Intervene Skip to content

Price Indexation: Government Won’t Intervene

By Iceland Review

Yesterday, the government discussed reactions to the Supreme Court’s ruling that indexed car loans are unlawful, reports. After the meeting, PM Jóhanna Sigurdardóttir said that no intervention on behalf of the government is planned, which would compromise citizen’s rights.

PM Jóhanna Sigurdardóttir.

According to Minister of Economy and Trade, Gylfi Magnússon, the situation will be reviewed, asking whether a coordinated plan of action is needed. “The ruling is clear but despite that, a conflict can arise regarding how to deal with certain matters,” he said, adding that the government will by no means disenfranchise creditors.

The Minister said that they were sure that the banks would survive the blow. Minister of Finance, Steingrímur J. Sigfússon, said that it would be the role of the banking system to determine the next steps.

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