The European Commission issued today its Progress Report on Iceland. The report assesses economic and political development in Iceland from February to October 2010, and recapulates the issues that need to be addressed in the upcoming accession talks. Read the full story

An EU commissioner’s assertion that there is no legal provision for state guarantees of bank deposits in the European Economic Area (EEA) could prove important for the Icelandic government in dealing with Icesave. Read the full story

PRESS RELEASE FROM Ministry for Foreign Affairs 
Significant progress has been made towards solving the differences on the interpretation of legal obligations with respect to deposit guarantees in the European Economic Area. The issue stemmed from difficulties following the collapse of former privately-owned Icelandic banks, in particular the Landsbanki in the United Kingdom and the Netherlands and the issue of the so-called Icesave accounts. Talks between Iceland and several EU member states, initiated by the French EU Presidency, led to a common understanding that will form the basis for further negotiations. Read the full story