Össur Skarphéðinsson

The Icelandic foreign minister will take control of the country’s Icesave defence preparations at the EFTA court; despite loud calls from the opposition to keep the case in the hands of the business and commerce minister. Read the full story

The EFTA surveillance authority’s decision to take Iceland to court over its unwillingness to accept a state guarantee for Icesave customers in the UK and the Netherlands was greeted in Reykjavík with little surprise. Read the full story

ESA, the EFTA (European Free Trade Association) surveillance authority, has decided to take the Icelandic state to the EFTA court over its handling of the Icesave case. By discriminating against foreign depositors and not reimbursing the British and Dutch governments within one year, it is claimed Iceland broke European law. Read the full story

The estate of Iceland’s bankrupt Landsbanki bank this week paid the British and Dutch governments one third of the money they claim for having bailed out Landsbanki’s Icesave customers in the two countries. An ESA spokesman said that there still has not been any decision made as to whether or not the Icelandic state will be taken to court over Icesave in a case to decide whether or not it was the government’s duty to pay the money back. The ESA maintains that it was; but the Icelandic government disagrees. Read the full story

Bjarni Benediktsson, leader of Iceland’s opposition Independence Party, is in London and yesterday met with his Conservative counterpart David Cameron, Prime Minister of the United Kingdom. Read the full story

The Supreme Court of Iceland yesterday ruled that the emergency law on prioritisation of bankruptcy claims will remain in force. In the specific case of Landsbanki, this means that British and Dutch claims to cover the Icesave debt can now be paid out. Read the full story

The Supreme Court of Iceland today ruled in a case concerning the Emergency Act of October 6th 2008. The ruling entails that the law and associated acts stands undisputed. Read the full story

Ossur Skarphedinsson, Icelandic Minister for Foreign Affairs, believes the President of the Republic went too far when he recently criticised the government over the Icesave dispute in the foreign media. Read the full story

In accordance with previous estimations, it is still predicted that recoveries from the bankrupt estate of Iceland’s Landsbanki Islands hf. will cover UK and Dutch deposits in Icesave; with surplus. Read the full story

The EFTA surveillance authority, the ESA, has ruled that the Icelandic authorities are required to pay out the minimum insurance amount on Icesave deposits in the UK and Netherlands. Read the full story