From Iceland — Reaction Not "Jubiliant" to New Icesave Proposal

Reaction Not “Jubiliant” to New Icesave Proposal

Published February 16, 2010

Minister of Finance Steingrímur J. Sigfússon told RÚV yesterday that British and Dutch reaction to Iceland’s new proposed Icesave deal was not exactly one of celebration.
A committee traveled to London yesterday to introduce Iceland’s proposal to officials from the UK and Holland. According to Vísir, Iceland’s committee was comprised of four people: American law professor Lee Buchheit will lead the committee, with Guðmundur Árnason from the Ministry of Finance and Supreme Court lawyers Jóhannes Karl Sveinsson and Lárus Blöndal.
At the meeting’s conclusion that evening, a phone conference between British and Dutch officials and Icelandic party chairmen was held. Speaking to RÚV, Sigfússon told reporters, “They did not close the door nor walk out, but neither did they receive our ideas with jubilation.”
An official response to the proposal – which includes foregoing paying interest on the money owed, and instead paying it back faster – is still pending.

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