The Icesave bank of Iceland; from Rock-solid to Volcano Hot: Is the EU Deposit Guarantee Scheme Resisting Financial Meltdown?

• Published in: Croatian Yearbook of European Law and Policy
• Main Author: Peter Orebech
• Format: Article in Journal/Newspaper
• Language: English
• Published: University of Zagreb, Faculty of Law 2010
• Subjects: iceland; internet bank icesave; european economic area agreement; referendum; eu directive 94/19/ec; eu; Law; K; Law of Europe; KJ-KKZ; Rata; Iceland
• Online Access: https://doi.org/10.3935/cyelp.06.2010.106; https://doaj.org/article/e3759daa6a3f4cd7826aed8abc425e9f

The Icelandic internet bank Icesave went bankrupt in late 2008. The insufficient Icelandic deposit guarantee scheme (Tryggingasjóður) did not resist the Icelandic financial meltdown and failed to compensate British and Dutch depositors the guaranteed sum of €20,887 as settled in Directive 94/19/EC,...