Iceland, Global Economy | featured news

Iceland's biggest IT company CCP is what the island needs to leave its economic crisis behind. It is global, growing and employs hundreds but its tale is also one of frustration that echoes concerns about the country's future.

Icelandic voters appeared Sunday to have rejected a government-approved deal to repay Britain and the Netherlands $5 billion for their citizens' deposits in the failed online bank Icesave.

Icelanders are set to reject the terms for repaying Anglo-Dutch debts in a referendum on Saturday, forcing new negotiations with creditors and delaying financial aid the country needs to fix its shattered economy.

Icelanders are sure to vote against repaying $5 billion in "Icesave" debts if a referendum goes ahead on Saturday, but conditions are good for reaching a revised deal with Britain and the Netherlands, Iceland's Foreign Minister was quoted on Wednesday as saying.