From Iceland — Still No Reply from British and Dutch

Still No Reply from British and Dutch

Published January 22, 2010

As talks between party chairmen continued yesterday, there has still been no reply from British and Dutch authorities on the possibility of re-negotiation of the Icesave deal.
A referendum on the law, estimated to cost about 200 million ISK, is expected to be held on 6 March, unless parliament decides to withdraw the law altogether and draft a new one, or if the UK and Holland say they are ready to commence talks again, and strike a new bargain.
British and Dutch authorities have said that they will not re-negotiate the terms of an Icesave deal until the ruling coalition can establish a more solid consensus of support. The government had been in talks with opposition party chairmen in hopes of achieving just that, but in the end the only thing that could be agreed on was that a multi-partisan committee should oversee talks with British and Dutch authorities.
If the Icesave law is defeated by referendum, re-negotiations with British and Dutch authorities will have to take place anyway, after a new Icesave proposal is drafted by the Icelandic parliament.
Minister of Finance Steingrímur J. Sigfússon told Vísir that he expects to hear something from the UK or Holland over the weekend.

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