Icelandic, British and Dutch Icesave Deal Drafted Skip to content

Icelandic, British and Dutch Icesave Deal Drafted

icesave-logoA draft of an agreement between Icelandic, British and Dutch authorities on the dispute regarding Landsbanki’s Icesave deposits payback scheme has been completed and presented to parties of interest.

Representatives of the Icelandic employment market confirmed to that the agreement draft was presented to them last week.

Vilhjálmur Egilsson, managing director of the Confederation of Icelandic Employers (SA), said the draft indicates that the Icelandic state will contribute much less to Icesave than originally expected, possibly ISK 60 billion (USD 532 million, EUR 391 million).

However, the amount depends on what conditions determine the calculations, he added.

Fréttabladid states that a successful reclamation of Landsbanki’s assets helped further the new deal between the three countries.

According to the newspaper, neither chairman of the Progressive Party Sigmundur Davíd Gunnlaugsson, nor representative of the Movement Thór Saari had heard about the draft.

However, Bjarni Benediktsson, chairman of the Independence Party, the third and largest opposition party, told that he has been following the negotiations and knew that there had been extensive progress, although the agreement has not been completed.

According to, a spokesperson from the Dutch Finance Ministry told Reuters that although recent Icesave negotiations between Iceland, the UK and the Netherlands had been productive, an agreement is not at hand.

Click here to read more about Icesave.

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