Lessons from the Icesave rejection

April 27, 2011

Icelanders have voted against providing a government guarantee for claims made by the UK and the Dutch governments against Iceland's deposit insurance fund. This column argues that the heated debates surrounding the referendum may provide a glimpse into the challenges that lie ahead for European policymakers as they attempt to allocate losses suffered by banks between the taxpayers of different countries.

Published on VoxEU.org

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