Iceland to Present Bill to Wipe Out Personal Debt, Minister Jonasson Says | WHAT REALLY HAPPENED


Iceland to Present Bill to Wipe Out Personal Debt, Minister Jonasson Says

Iceland’s government will this week present a bill allowing debtors to walk away from obligations that exceed asset values and to nullify personal bankruptcies after four years, Internal Affairs Minister Ogmundur Jonasson said.

“All Icelanders can see that our society is currently in turmoil,” Jonasson said in an interview in Reykjavik. “We’re therefore required to sit down at the table and offer solutions; I don’t anticipate that the people running financial institutions will disagree.

Tags:

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA