From Iceland — Minister of Finance Bjarni Benediktsson Resigns grapevine.is - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from grapevine.is Daily Mail and Mail on Sunday newspapers.
From Iceland — How Not To Sell A Bank grapevine.is - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from grapevine.is Daily Mail and Mail on Sunday newspapers.
Most governments would have been delighted to do what Iceland managed with its sale of Íslandsbanki shares earlier this year. But an audit of the deal has triggered a war of words with the body responsible for it, as well as some very odd conclusions from an Excel spreadsheet.
Bjarni Benediktsson, the Minister of Finance and Economic Affairs, says that it would have been completely unrealistic to try to chase the price in the government’s subsequent offer of shares in Íslandsbanki to 122 ISK per share.
An incorrectly formatted spreadsheet caused Iceland to price the sale of its Islandsbanki stake too cheaply earlier this year, an investigation by the National Audit Office has found.