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Iceland Watch Launches Ad Campaign Denouncing Iceland's Discrimination

October 31, 2016

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Iceland Watch, a project of the Institute for Liberty (IFL), today launched an advertisement campaign in the United States, Iceland and Denmark calling on the Icelandic government to treat all investors fairly.

The ads, which appear in the United States, Iceland and Denmark, come on the heels of Icelandic Government passing a capital controls bill that discriminates against foreign investors based on their national origin which is illegal and will lead to Iceland's economic demise.

Regarding the ads, IFL released the following statement:

"By passing this discriminatory capital controls bill, the Icelandic Government is telling the world that it has no regard for the rule of law and that it has chosen the path of isolation; it does not want or need foreign investment of any kind.

"Iceland's capital controls bill harms millions of American retail and institutional investors who have savings in individual retirement plans, public pensions and endowments.

"Even though this bill discriminates against foreign investors, Icelanders should be warned that this latest move by its government will also negatively affect their wellbeing. The Icelandic government's reckless actions threaten the economic security of its own citizens.

"Discriminating against foreign creditors and forcing them to sell their bonds at a steep discount will not only repel potential investors, it will lead to Iceland's economic demise.

"If Iceland wants to avoid another economic meltdown and maintain positive growth, the government should sit down with its creditors and negotiate in good faith to find an equitable solution."

For more information about Iceland Watch and to view the ad, visit www.icelandwatch.org.

Iceland Watch is a project of the Institute for Liberty that aims to examine Iceland as the country stands at a political and economic crossroads.

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