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finance

Stokkseyrarkirkja

Icelandic State “Owes Church Billions"

The National Church of Iceland has criticized the financial plan of the Government in a formal letter from the church council and the combined bishops. The financial plan is currently going through parliament.

Money

Glitnir Directors Receive Major Bonuses

Three board members of Glitnir Holdco ehf., along with a few Icelandic key employees of the company in Iceland, have already secured a total of ISK 875-1,525 million (USD 7.6 million, EUR 7 million) in bonuses.

Press conference

Measures to Lift Capital Controls

A draft resolution introduced yesterday by Finance Minister Bjarni Benediktsson and Prime Minister Sigurður Ingi Jóhannsson includes measures which would be a big step toward the lifting of capital controls in Iceland.

Bjarni Benediktsson

Offshore Króna Bill Passed in Parliament

A bill submitted before parliament Friday afternoon by Finance Minister Bjarni Benediktsson regarding so-called offshore króna accounts was passed late last night with 47 members of parliament voting for it.

Glitnir

Bank Execs Plead Innocent

Lárus Welding, former director of Glitnir Bank, and four other executives from the failed bank, have this morning pleaded not guilty to all charges as their trial begins.

Keflavík

Indebted Town Calls on Government Help

Reykjanesbær council—one of Iceland’s most populous municipalities—may be about to take the unusual decision to ask the central government to take over its finances in an effort to get spiraling debt under control.

Landsbankinn

Bank Criticized for Shady Assets Sale

Iceland´s FME financial regulator has released a statement which concludes that Landsbankinn’s conduct in selling its 31.2 percent stake in credit card company Borgun could not be considered in line with normal, healthy trading procedures in the financial market.

Minister of Finance Bjarni Benediktsson speaking at the Independence Party general meeting in 2013.

Will RÚV Be Sold?

The Independence Party believes certain state-owned assets should be sold, such as RÚV― the Icelandic National Broadcasting Service.

Glitnir

Íslandsbanki to be State-Owned

The creditors of Glitnir Bank have proposed to relinquish all of Glitnir’s holdings in Íslandsbanki LTD to the State as part of their stability contribution.

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