Solution on Icesave in Sight within Iceland’s Government Skip to content

Solution on Icesave in Sight within Iceland’s Government

Minister of Health Ögmundur Jónasson of the Left-Greens and Left-Green chairman, Minister of Finance Steingrímur J. Sigfússon, are hopeful that a satisfactory solution can be reached in the dispute over the Icesave agreement so that all members of the coaltion parties will vote for the government’s proposition on the matter.

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

“I am hopeful that we will reach a joint conclusion if everyone shows their best intention to cooperate,” Jónasson told Fréttabladid last night. Within the Althingi parliament’s Economic and Tax Committee, people are on the right track, Jónasson said.

Fréttabladid reported yesterday that if Jónasson decided to vote against the proposition he would likely cause a split in the government and the Social-Democrat-Left-Green coalition would be terminated.

Chairpersons of the government parties, Sigfússon of the Left-Greens, and Prime Minister Jóhanna Sigurdardóttir of the Social-Democrats, discussed the Icesave matter in a special meeting with Jónasson before the cabinet meeting yesterday morning.

Sigfússon said the matter was moving along in the right direction and he believes Althingi will pass the government’s proposition on Iceland’s responsibility towards the Icesave depositors in the UK and the Netherlands.

It remains unclear when the parliament’s Economic and Tax Committee will complete its review of the proposition.

Icesave was Landsbanki’s online savings unit in the UK and the Netherlands. When Landsbanki was nationalized by the Icelandic state in October last year, the Icesave deposits were lost.

In June, the Icelandic government reached an agreement with British and Dutch authorities that Iceland be provided with loans to honor its obligations and compensate the Icesave account holders to a certain extent.

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