"To take part in Europe’s single banking market, states must make the sector set up and run a deposit insurance scheme. Iceland’s case is that this obligation is not a duty for the state itself to bail out failed banks’ creditors, especially not when the failure is one of the entire system. The court agreed, relying on the plain text of the directive and rejecting the fanciful reading advanced by Esa with UK, Dutch and commission backing."
Financial Times välkomnar i en ledare den isländska segern över EU, Nederländerna, Storbritannien och ESA i Icesave-tvisten - läs mer här.
