Iceland to cut public spending by 30% over next 3 years; Slams UK and Netherlands
Aug 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Iceland's prime minister Jóhanna Sigurðardóttir, says in an article published in the Financial Times today that her government plans a 30 per cent cut in public spending over the next 3 years, with extensive contractions in infrastructure spending and wages. She terms it "a heavy burden for our population of 300,000." In the article, she also slams the UK and the Netherlands for demanding compensation for payments on deposits in respect of a failed Icelandic online bank.