Iceland – Bouncing back
Iceland’s president sheds light on how his country is recovering from bank failure.
Coming back from the financial brink what does the future hold for Iceland?
The country was on the verge of bankruptcy during the global financial crisis and got into a bitter spat over deposits lost by British and Dutch customers when an Icelandic bank collapsed.
The British government went as far as declaring Iceland a terrorist state in order to freeze the bank’s assets in the UK and the issue of repayment of billions of dollars in lost deposits, with interest, has still not been resolved.
Olafur Ragnar Grimsson, Iceland’s president, talks with Riz Khan about the challenges of trying to resolve the Icesave scandal.
This episode of the Riz Khan show aired from Wednesday, February 3, 2010.