From Iceland — Icesave Deal Out Of Committee

Icesave Deal Out Of Committee

Published January 27, 2011

The new Icesave deal has been passed in the finance committee, and will now move to the floor of parliament for another round of debate.
The new deal – struck between Iceland, Holland and the UK last December – shows much lower interest rates and less financial burden for the state than the previous deal, which was defeated in a referendum last year.
Oddný G. Harðardóttir, the chairperson of the finance committee, told RÚV that the measure passed the majority of the committee, with very few changes made to the language of the bill. Progressive Höskuldur Þórhallsson and Movement MP Þór Saari were the only committee members to vote against it.
The bill now goes to the floor of parliament for a second round of debate. If it passes, it will then go back to the finance committee, and then to the floor again for a final vote.
A recent poll shows that 56% of Icelanders support passage of the new deal, and even many ardent opponents of the original Icesave agreement have toned down their rhetoric somewhat.
The bill will be voted on next week.
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