From Iceland — Majority of Althingi oppose Icesave deal

Majority of Althingi oppose Icesave deal

Published July 14, 2009

It has been alleged that the majority of the Althingi’s MP’s are opposed to the agreement the government has made with British and Dutch authorities concerning Icesave accounts that were frozen in November 2008 following the economic collapse.
Fréttabladid’s sources claim that in order for the Icesave bill to be passed by Althingi a disclaimer allowing for amendment of the agreement at any time and possibly capping the amount that Iceland would pay back depending on their ability to reimburse those burned by Icesave. The exact nature of the disclaimer is still unclear and is all speculation at this point.
As with the differing opinions on matters such as the EU, parliament is split regarding their support of the standing Icesave agreement. The Social Democrats support the agreement made with foreign investors but the Left-Greens have their doubts. Another point of contention in parliament is the timeline for dealing with Icesave and any possible disclaimers concerning the agreement. Some members of parliament feel that the entire issue should be postponed until the fall, while others would prefer to deal with it immediately so that financial restructuring of the banks can get underway and Iceland can begin to receive foreign loans.

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