Delegates of the Faroe Islands, Norway and the European Union will meet in Bergen, Norway, to discuss the division of the mackerel fishing quota, which has long been debated, next week. The three parties have reached an agreement between themselves. Iceland was not invited to the meeting.
The average write-off under the government’s debt cancelation plan, which aims to correct indexed mortgages for the effects of inflation in 2008 and 2009, will be ISK 1.35 million (USD 11,000, EUR 8,800) per household, as announced in a press conference this afternoon.
The Central Bank of Iceland cut its benchmark interest rate by 0.25 percentage points from 6 percent to 5.75 percent in the first cut since 2011 this morning.
Reykjanesbær municipality in Southwest Iceland, including Keflavík, is in debt by more than ISK 40 billion (USD 327 million, EUR 260 million), as revealed when a report by KPMG on the community’s finances was presented at a public meeting yesterday evening.
One of the biggest cases in which the Office of the Special Prosecutor in Iceland has filed charges, the result of extensive investigations of banking affairs following the economic crisis in 2008, opened in Reykjavík District Court on Wednesday.