This is bad news for Greece and Ireland. And it may monkey with currency markets.

Voters in Iceland have overwhelmingly rejected proposals to pay the UK and the Netherlands in the wake of collapse of the Icesave bank.

With a third of results counted, 93% of voters said “No” in a referendum.

The British and Dutch governments want reimbursement for the 3.8bn euros (£3.4bn; $5.2bn) they paid out in compensation to customers in 2008.

via BBC News – Iceland rejects plan to repay Icesave debts.