Nordic Countries Disagree on Iceland Loan Skip to content

Nordic Countries Disagree on Iceland Loan

The foreign ministers of the Nordic countries met in Copenhagen yesterday where Foreign Minister of Iceland Össur Skarphédinsson explained the situation of the Icesave dispute with the UK and the Netherlands following the referendum on Saturday.

From Copenhagen. Photo by Páll Stefánsson.

Skarphédinsson also discussed the International Monetary Fund’s economic stabilization program for Iceland and emphasized how important it is that the program’s second review is not subject to further delays, Morgunbladid reports.

After the meeting it became clear that Norway is the only Nordic country willing to continue to disburse loans to Iceland before the Icesave dispute has been settled.

Norwegian Foreign Minister Jonas Gahr Stoere had announced before the meeting that Norway would not oppose further loan disbursements through the IMF because of the Icesave dispute as long as Iceland fulfilled the requirements made.

According to Aftenposten, Stoere said the leaders of the other Nordic countries are not of the same opinion as Norwegian authorities. He said he had encouraged his Nordic counterparts to unify their position.

Foreign Minister of Denmark Lene Espersen said in an interview with Ritzau after the meeting that the Nordic countries aim towards helping Iceland restore the local economy. However, an agreement on the Icesave repayments is important, the minister added.

According to a press release from the Icelandic Foreign Ministry, Skarphédinsson and Espersen had a talk about Icesave yesterday. Espersen showed understanding for Iceland’s cause, declaring that she is hoping for a quick solution to the debate.

Skarphédinsson announced to Reuters after yesterday’s meeting in Copenhagen that he hopes Icesave negotiations can resume next week, reports.

Click here to read more about Icesave.

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