Icelandic news translated into English

November 13, 2008

Deals about Icesave the only way

Picture by Reuters

Picture by Reuters

The Icelandic government has decided to try to deal with England and Netherlands in the next days on how the Icelandic government can compensate the balances in the Icesave accounts of Landsbankinn to the ones who are hurting from the loss when the banks were bankrupt. It is the evaluation of the head men of the government that the only way to get the loan approved from the IMF and other governments is to finish these deals as soon as possible.

According to the sources of the Morgunblaðið the Icelandic government has been under a lot of pressure from the united nations and the founders of the European Union to make these deals. It has been public that it is the united position of all the 27 ESB countries to be against that Iceland gets the help from IMF until the Icesave debts have been negotiated about.

The ESB countries are not agreeing with the legal reasons of Iceland in he matters and say that this is a political perspective. It is reasoned in the matter that this issue has to be finished in the way that there is no doubt of the value of the executive order from the ESB, that is valid in all the European economic area, about the mutual insurance of the balances. If the unfortunate example is set by giving in on the deals to Iceland everything would be upset in the European bank market in the current situation and the balance owners would stop trusting the banks about practice in another country than its own.

The sources of the Morgunblaðið say that for instance the representatives of all the Nordic nations have made it clear that it will not work to talk about a loan from them until the Icesave disputes have been solved. It was also hinted by the ESB council that if Iceland admits the demands of England and the Netherlands the united nations will try to set the terms in an order that the debt and repayment would not be too heavy for Iceland.

News Article by noname
Original Article in Icelandic


November 12, 2008

Help depends on closure

Jens Stoltenberg og José Manuel Barroso ræddu við blaðamenn i dag.

Jens Stoltenberg og José Manuel Barroso ræddu við blaðamenn í dag.

José Manuel Barroso, president of the executive of the European Union said in a news conference in Brussels today that Iceland has to find a closure on the disputes to some member states to the union before Iceland can have the so called macrofinancial help from the unions funds.

“The executive will suggest to the member states of the European Union that Iceland will have help in such a form of loans that will be an addendum to the IMF loan,” said Barroso. It will only be capable if Iceland finds a resolution to the disputes about the double edged deals about insurance for the balance of foreign savings owners in Icelandic bank accounts. “We think it is very important that full equality is guarded in these issues,” says Barroso. “The member states of the European Union are asking that the terms that have been set will be honored.” said Barroso. He is convinced that these disputes will be resolved.

Barroso said that the management of the ESB have received a request for help by mail from Geir H. Haarde October 2nd. Macrofinancial-aid from the European Unions are thought of as for the European countries that are not affiliated with the European union and have another currency than the Euro.

News Article by noname
Original Article in Icelandic

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November 7, 2008

Haarde confirms Polish assistance

Filed under: economy,Politics — newsfrettir @ 7:45 pm
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Geir H. Haarde prime minister at the news conferance today
Geir H. Haarde, prime minister, confirmed at a press conference that Polish authorities are going to lend the Icelandic nation 200 million USD. At noon the prime minister said he knew nothing about the loan that was posted in foreign media. Geir said this had been confirmed in a conversation between the finance ministers of Iceland and Poland.

When asked Geir says the reason that he did not know about the loan from Poand he says that the Polish went to the Swedish. The Polish finance minister said to Árni M. Mathiesen, finance minister of Iceland, today that they knew hardship of this kind besides that many Polish people have worked here. Geir thanked the Polish for their support and says this is true manliness.

He says the initiative was completely from the Polish as the Faeroe and it is to be thanked for.

Additionally to the IMF Icelandic authorities have spoken with the other Nordic countries and Russians about loan and later it was both Faeroe nation and Polish that added t the group that are going to lend the Icelandic nation, said Geir and added that there has not been made any appointments with the Russians about a possible loan.

Geir said at the meeting that Jose Manuel Barroso, the chairman executive of the European Union, had offered Iceland a loan from the emergency fund of the European Union. He has answered the letter immediately and Iceland will accept help from the fund. The handling on the other hand with express treatment will take four to six weeks and it is not in the package from IMF. Geir says that the finance minister has information that the amounts are not large that Iceland can get from the fund.

(News Article by noname)
Original Article in Icelandic

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