From Iceland — Icesave: UK Open to New Talks?

Icesave: UK Open to New Talks?

Published February 18, 2010

Fréttablaðið is reporting that sources close to them say the UK is ready to go to the re-negotiation table with Iceland, to work out a new deal on the Icesave matter.
Minister of Finance Steingrímur J. Sigfússon told reporters yesterday that the Icelandic committee currently in the UK had a phone conference with Iceland’s party chairmen. The minister said that he was now “very optimistic” about the near future, showing a complete turn-around from his statement earlier in the week.
Sigfússon added that as talks are still at a sensitive stage, he cannot go into precise details on the matter.
Fréttablaðið reported early this morning that their sources tell them that British authorities are ready to re-negotiate aspects of the Icesave deal. Iceland’s proposal has been to pay back the money owed depositors without interest, but also faster. Fréttablaðið’s sources say the interest rate and an interest-free period are both areas of the deal most likely to be re-negotiated.

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