The Icelandic outlook according to Sigfusson
Today, Iceland’s Minister of Finance Steingrimur Sigfusson said to Dow Jones that Iceland is better off outside the European Union. This comes as no surprise: Sigfusson’s party, the Left Green, opposes Icelandic membership to the EU whereas the Social democrats, who lead the Icelandic Government, think Iceland should join. For the time being, polls indicate that the majority of Icelandic voters side with the Left Green.
As to Icesave, Sigfusson said: “The Icesave dispute is solely a problem between Iceland, the U.K. and the Netherlands and should not be mixed into anything else—be it the EU application process or our cooperation with the International Monetary Fund.” – The ESA might beg to differ here.
Sigfusson pointed out that Iceland isn’t in any immediate need for funding and the IMF’ fifth review of its Iceland programme is expected soon. The IMF programme, approved in November 2008, of emergency loans of up to $2.1 billion will help Iceland recover from the crisis following the collapse of the banking system in October 2008.
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