REYKJAVIK-Iceland's president on Sunday triggered a referendum on an updated plan to repayUS $5 billion (£3 billion) to Britain and the Netherlands for debts incurred in the financial crisis, renewing uncertainty over economic recovery.
Iceland, where the economy and financial system crashed in late 2008, owes Britain and the Netherlands money they used to bail out domestic savers who lost money in online "Icesave" accounts run by a failed Icelandic bank. Icelandic President Olafur Grimsson said the new terms thrashed out over months of negotiation were better than the first deal, rejected by Icelanders last year.(Reuters)