Minister of Finance: Can the Icelandic Government Govern after the Icesave Veto? Skip to content

Minister of Finance: Can the Icelandic Government Govern after the Icesave Veto?

President Ólafur Ragnar Grímsson decided for the second time to put the Icesave agreement to a vote among the nation. The president declared that the nation had voted on the agreement in March 2010 and should thus be consulted again.

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In Althingi the vote for the agreement was 44 to 16 with 3 abstaining. The president said that many signatures had been collected for the agreement to be put to a vote.

It is considered to be unlikely that negotiations for a new agreement will take place after the Presidents veto as happened last year. Just this weekend Lee Bucheit, chairman of the Icelandic negotiation team, said that he thought it best that the law on the agreement should stand.

In an interview after the decision Prime Minister Jóhanna Sigurdardóttir and Minister of Finance Steingrímur Sigfússon said they were surprised and disappointed over the president’s decision. Sigfússon said that the decision made it questionable that the Icelandic government could govern in the difficult times. However, both said that there was no decision to dissolve Althingi (Iceland’s Parliament) after the decision.

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