From Iceland — Iceland Asks for Further Icesave Talks

Iceland Asks for Further Icesave Talks

Published February 23, 2010

After a meeting between party chairmen today, Icelandic authorities have decided that the new offer made by British and Dutch authorities over Icesave prompts further discussion; not acceptance or rejection.
The original deal, voted into law by parliament and subsequently vetoed by the president, sets an interest rate of 5.5%. The new offer would put interest rates 2.75%, with two years interest-free.
“It reduces the debt burden significantly, but there are other related details that we feel need to be discussed further,” Minister of Finance Steingrímur J. Sigfússon told Vísir. Opposition party chairmen underscored the same tone.
A formal response from Iceland was sent yesterday. How British and Dutch authorities will respond remains to be seen.

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