UK

The IMF relaxes its Icesave demands

April 10, 2010

So, the International Monetary Fund has decided to relax its stringent stance against Iceland and go ahead with the review of Iceland’s economic program. This is the prerequisite to Iceland receiving more aid from the IMF and also from other European countries [although Norway broke ranks a few weeks ago, as some of you may [...]

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Icesave talks break down and UK/Holland leak a document

February 25, 2010

So, Icesave talks between Iceland and the UK/Holland broke down this evening. The Brits accuse the Icelanders of walking out, as per this report from Channel 4 in the UK, which quotes a Treasury spokesman: The UK and Dutch Governments are disappointed that despite their best efforts over the past year and a half that [...]

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The discussion on Facebook

January 5, 2010

Predictably, social media sites are all aflutter with Icelanders variously expressing their indignation or jubilation. Here are a couple of Facebook statuses that have been making the rounds on my friends list. Gerard van Vliet [best frienf of InDefence] says in Telegraaf that a new opportunity has now opened up. The governments of Iceland and [...]

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An accord reached on Icesave amendments

August 15, 2009

So – an accord was reached late last night in the Budget Committee [which has been working on amendments to the Icesave agreement] between the reps of all political parties, except the Progressive Party, on conditions for a sovereign guarantee of the Icesave debt [in plain talk: conditions for having us commoners pony up the [...]

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Sinister revelations concerning the Icesave agreement

July 22, 2009

Pretty significant piece of news today: a Memorandum of Understanding was made public which reveals that British, Dutch and Icelandic authorities met in 2006 to discuss what would happen if Landsbanki went into default and could not cover the deposits of British and Dutch savers in the Icesave accounts. The MoU makes clear that the [...]

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