This happened after the government refused to compensate the loss of the island of the British and Netherlands depositors.

between the Icelandic authorities and the governments of Great Britain and the Netherlands, a conflict flares up on the damages suffered by Britain and the Netherlands depositors bankrupt Icelandic internet bank Icesave. The President of Iceland Olafur Ragnar Grimsson said that Britain and the Netherlands have used their influence in the IMF in order to convince the leadership of this organization to stop the allocation of credits in Reykjavik.

In early January it was announced that Iceland has refused to pay compensation to foreign investors internet bank Icesave. The President of Iceland Olafur Ragnar Grimsson vetoed the bill on payment of such compensation. The bill provides that within the next 15 years Reykjavik pay London and Amsterdam about EUR3, 8 billion ($ 5.3 billion) of debt debt ruined the autumn of 2008 the private Icelandic bank Icesave. Thus, each Icelander it would cost EUR12 thousand Amount payable to both countries, is 50% of the GDP of Iceland. Applies to the UK is similar to 700 billion pounds.

President of Iceland announced a nationwide referendum on the question of compensation for the loss of foreign investors, to be held between February 20 and March 6. Such a decision Olafur Ragnar Grimsson had once received a collective appeal to the citizens of Iceland. Under the document signed by almost a quarter of Icelanders who have voting rights. According to a preliminary survey, 62.4% of Icelanders support the president"s decision to impose a veto. Against the decision taken by the President, on the basis of opinion poll expressed 37.6% of Icelanders.

referendum at risk to fail the existing compensation program, with unpredictable consequences for the financial sector, Iceland and the prospects for accession to EU. Government of Great Britain and the Netherlands perceived failure of Iceland to the compensation of a very painful, since they have already paid the losses to its citizens and companies lost money in the1000collapse of the bank Icesave, and are now seeking the return of budget funds from the Government of Iceland. Britain demands Iceland 2,35 billion pounds sterling. Lord Miners, Vice Chancellor of the Exchequer, said that if the Icelanders refuse to deal, in so doing they "recognize that Iceland did not want to be part of the international financial system."

In connection with the failure of Iceland to compensate for the loss of foreign investors, the program will provide financial assistance to Iceland from the IMF and Nordic countries in the amount of $ 10 billion is now under question. Spain, which since January 1, 2010 Presidency of the European Union, warned Reykjavik that the postponement of the issue of debt instruments Icesave may affect the consideration of the application of Iceland to join the organization.

This financial requirements to Iceland are growing. Last week in Reykjavik, gathered investors from 119 countries bankrupt Icelandic bank Kaupthing Bank. Committee on Bankruptcy Kaupthing Bank has published a list of financial claims against the bank. It turned out that the bank should foreign investors more than EUR43 billion, which is no longer half, and five of GDP of Iceland. The next meeting of financial claims of investors Kaupthing Bank imposed only on 18 May. Until then, committee dealing with the affairs of a failed bank, will continue to study before it claims.

In the case of Kaupthing Bank claim is mostly financial institutions from Germany, who provided more than half of the 28 thousand private claims. In terms of the requirements is leading Germany"s Deutsche Bank, which provided about 50 private claims totaling approximately EUR5, 3 billion in banks from Germany, such as the Deka Bank, West LB, Bayern LB, HSH Nordbank, Commerzbank and DZ Bank, have invested in Iceland more EUR22 billion, a result of the crisis and the collapse of Icelandic banks, each of nearly 320 thousand inhabitants of Iceland"s banking sector should be in Germany for EUR68, 7 thousand

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