Iceland's three largest banks sparking folded at the end of 2008, a national crisis of Icelanders vote in a referendum on the latest plan to repay of the United Kingdom and the Netherlands for costs which collapsed as its banking system.The country largely rejected a previous repayment plan, which was put in a referendum in March.
The new deal offers less onerous terms, but polls suggest that it be rejected again.
Icelandic Landsbanki broke Bank together in the year 2008 and around billion lost euro (￡ 3 billion, $5 billion) British and Dutch investors.
The Bank had offered savings accounts in the UK and the Netherlands under the name Icesave.
The British and Dutch Governments had to reimburse 400,000 citizens, lost the savings - and Iceland must decide now, pay back the money.
Under the terms of the latest deal, Iceland the money back would numbers with 3.3% interest between 2016 and 2046.
The previous proposals was the money back interest rates between 2016 and 2024 with 5.5%.
The actual cost to the State is expected to be much less than the billion owed euro, as the Government says that most will be the repayment from the sale of the assets of Landsbanki.
The Government has said that it expected the cost of not more than 50 billion koruna (￡ 168 m).
Analysts say that vital is Islands prospects for recovery problem, the country would again on the financial markets thus to finance itself.
Solving the dispute is also key to the Islands see opportunities to join the EU.
Iceland the three largest banks broke within days of each other in October 2008.
The Government compensated Icelandic savers, but all faced overseas customers to lose their money.
The problem sparked a diplomatic row between Iceland and the United Kingdom and the uncertainty about Icelandic economic recovery creates.
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