Bloomberg – Iceland’s government says speculation by creditors in the island’s failed banks, many of whom are hedge funds, that they will need to take a 75 percent writedown on their claims is an exaggeration.
“The 75 percent was mentioned at a lunch meeting, very unofficially,” Finance Minister Bjarni Benediktsson said in an interview in Reykjavik. “That has been exaggerated as an assumption.” He said the final figure could be higher or lower.
