Iceland’s Government Targets Debt Reduction for Households
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Iceland’s new government will target measures to help households cut their debt loads, including forcing write downs on assets held by the creditors of the island’s failed banks.
“It’s right to use the space, which will likely be formed in the winding up proceedings of the estates” of the three failed banks “to accommodate borrowers and those that put their savings into their homes,” the government said in its economic program released today.