Money Matters - Simplified

More than 56

Petition halts Iceland's repayment plan

Reykjavik -- More than 56,000 voters in Iceland have signed a petition asking the government not to pay back foreign depositors who lost money when Icelandic banks failed.

The EUobserver reported Monday that the idea of paying back $5.5 billion to British and Dutch depositors had little public support given the sum -- $17,273 per person -- and the perception that bankers, not the man on the street, had caused the banking crisis.

On an island of 320,000 residents, those signing the petition represented almost a quarter of the country's voters, the EUobserver said.