So, the three-party musketeers who set sail for the UK and Holland a couple of days ago have returned and seem rather pleased with what they accomplished.
Even Sigmundur Davíð Gunnlaugsson from the Progressive Party, a.k.a. The Great Fearmonger in Parliament, has had to acquiesce that the British and Dutch were rather amenable to finding a solution to the Icesave dilemma.
What that means, however, isn’t quite clear. I find James Wilde’s interpretation in the comments to this post worth a ponder, though:
This supports the thesis of Johannes Björn on his site, vald.org, that the politicians of the creditor nations are dead scared that the Icelanders will take the Icesave case to the European court and win, because this will give the Baltic states, Ireland and Spain, not to say Greece reason to try the same course, which would be disastrous for the banking systems of the creditor countries, and could spark off a second wave of economic disaster to rival the one some people say we are now coming out of.
Meanwhile, the Icelandic media has been buzzing today over an interview that President Ólafur gave to CNN yesterday, in which he accused the UK and Holland of bullying Iceland financially.
We are being bullied. The British and the Dutch are using their influence within the IMF to prevent the IMF program from going forward,” Grimsson told CNN’s Richard Quest. “We have a situation, where a small nation is in fact ready to shoulder part of this burden but doesn’t want to be put in a corner where the very survival of its economy in the next 10 years would be at stake.
CNN doesn’t allow me to embed the video, but you can watch it here.