Iceland moves to nationalise Islandsbanki, on way to lifting capital controls

October 20, 2015 9:13 AM

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COPENHAGEN Oct 20 Creditors of Glitnir, a bank that crashed in Iceland's 2008 financial meltdown, have proposed handing to the government their 95 percent stake in Islandsbanki, the finance ministry said, in a move to bring the country a step closer to lifting capital controls.

"Should the authorities agree to the proposals, the state would become the full owner of the bank," a spokeswoman with the ministry said.

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