Pressure building on Icelandic minister

Pressure is mounting on Iceland’s Minister of Trade, Gylfi Magnusson, to resign over allegations he deliberately misled parliament a year ago.

Magnusson is accused of deliberately hiding material from parliament and the public concerning the discussion on foreign currency indexed car loans when questioned on the matter last summer. Such loans have since been declared illegal by the Supreme Court, meaning a huge bill for the banks, RUV reports.

Magnusson is an unelected government minister drafted in to his post as a respected economist and trusted public figure. He has been a popular appointment overall; but public opinion has swung away from him over this issue.

MPs from The Movement say they will be forced to apply for a vote of no confidence against him when parliament opens again in September if Magnusson fails to resign by himself.

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