No Results in London Icesave Talks Skip to content

No Results in London Icesave Talks

A four-hour meeting between the negotiation committees of Iceland, the UK and the Netherlands ended in London last night without any results. A new meeting has not been scheduled, yet the Icelandic committee is staying in London.

From London. Photo by Páll Stefánsson.

It appears as if the national referendum on the Icesave legislation which the president vetoed on January 5, will take place in Iceland on Saturday as planned, reports.

Recent polls indicate that the vast majority of voters will reject the legislation in the referendum—after that it is unclear how the talks with British and Dutch authorities will progress.

According to Fréttabladid’s sources, the British and Dutch committees have agreed to Iceland’s idea for a solution to the Icesave dispute, which include that Iceland pays the loan’s principal and the capitalization cost.

The newspaper’s sources state that the current disagreement is about how high that cost should be. Allegedly, the negotiating parties have very different ideas on that particular item, yet an agreement is not out of the question.

Icelandic Finance Minister Steingrímur J. Sigfússon would not confirm this and said it is untimely to reveal what had been discussed at yesterday’s meeting.

“The situation did not become much clearer and there is nothing on the table that gives reason for much optimism that talks will conclude soon,” the minister commented.

Click here to read more about Icesave.

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