Britain threatens to exclude Iceland from EU

01/6/2010 | Times (London) (subscription required), The

U.K. officials warned that the government will attempt to keep Iceland from joining the EU if the country does not repay funds lost by British and Dutch customers because of Icesave bank's failure. The Icelandic parliament had passed a measure to repay the funds, but President Olafur Grimsson refused to sign the bill. Iceland might lose its loans from the International Monetary Fund if it does not come up with a plan to repay the losses.

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