No New Icesave Offer from Iceland Skip to content

No New Icesave Offer from Iceland

The Icelandic negotiation committee on Icesave did not make a new formal offer to the UK and the Netherland yesterday evening as planned. However, Finance Minister Steingrímur J. Sigfússon said an agreement will still be attempted.

Minister of Finance Steingrímur J. Sigfússon. Photo by Páll Kjartansson.

It is unclear when the negotiation committee will return to Iceland. Sigfússon told that it would be a shame to give up on talks now although time is running out.

The minister said two meetings were held yesterday where the main issue of discussion was Iceland’s latest proposals on the items that the three parties haven’t been able to agree on, such as capital cost.

According to Morgunbladid, Lee Buchheit, chairman of the Icelandic committee, has emphasized to Sigfússon and Prime Minister Jóhanna Sigurdardóttir that the Icesave referendum in Iceland on March 6 must not be postponed, which he believes is Iceland’s strongest weapon in the Icesave talks.

However, both Sigfússon and Sigurdardóttir have said that there is not much point in having a referendum on Saturday if a draft of a new and more favorable agreement is on the table than the one on which Icelanders will vote on Saturday.

Click here to read more about Icesave.

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