Iceland pension funds to block $2bn debt relief

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ICELAND - Iceland's pension funds, which hold the bonds behind most of the country's mortgage debt, will try to block proposals to forgive as much as $2bn in bad loans that the government says it is considering.

A group that represents households demanding debt relief says lenders should write off up to ISK220bn ($1.99bn) in mortgage loans to help the 39% of homeowners who are technically insolvent. The go...

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