Norway Supports Iceland in Icesave Court Case Skip to content

Norway Supports Iceland in Icesave Court Case

By Iceland Review

icesave-logoThe Norwegian government supports many of Iceland’s arguments in the case of the EFTA Surveillance Authority (ESA) against Iceland in the Icesave dispute, which is currently before the EFTA Court, in their written remarks to the court.

The deadline for EEA countries to make remarks expired at midnight. According to Fréttablaðið’s sources, the court received remarks from at least three other countries, including the UK and the Netherlands, which support the ESA’s case (as they are party to the Icesave dispute) and Liechtenstein, which supports Iceland’s cause.

Norway states clearly in their remarks, published on the Norwegian government’s website yesterday, that in their view Iceland is right to maintain that the EU directive on deposit insurance does not assume that state treasuries take responsibility for deposit insurance funds in the case of an economic collapse.

Oral pleadings in the Icesave trial will likely begin in the latter part of this year.

Click here to read more about Icesave.

ESA

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