The Climate Action Network (CAN), a coalition of over 450 NGOs worldwide, gives out three ‘Fossil of The Day’ awards to the countries who perform the worst during the daily negotiations at the UN climate change conference. Read the full story

Ossur Skarphedinsson, former Minister of Industry in Iceland’s departing government, said on RUV News that discussions on the formation of a new government between the Social Democrats and the Left Green Party are going well.

The Social Democrat MP said that there are no major issues left to be resolved and that the talks can be expected to come to an end tomorrow.

Talks on the formation of a new government to rule Iceland until the elections this spring have been going on in Reykjavik’s Althingi Parliament House since early this morning.

A spokesman for the Dutch Ministry of Finances said earlier today that Dutch authorities will grant Iceland up to 1.3bn euro, MBL reported. The condition for the loan is that the money is used for paying IceSave depositors. Read the full story

The press conference held by the IMF delegation in Iceland this afternoon stressed the point that presently data is being gathered to evaluate the situation. The Icelandic government also has to decide whether the conditions of the IMF are acceptable.

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The opposition of the Icelandic government is not happy with the outcomes of the negotiations with the IMF delegation in Reykjavik today.

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Bjorgvin G. Sigurdsson, the Minister of Trade, Thorgerdur Katrin Gunnarsdottir, the Minister of Education, Science and Culture, Arni Mathiesen, the Finance Minister and Ossur Skarphedinsson, the Minister of Industry have just left the venue where Geir H. Haarde, the Icelandic Prime Minister is leading negotiations with the representatives of the IMF.

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Five top Icelandic politicians met today at 2pm Icelandic time to discuss the matter of dealing with the present economic situation in Iceland, MBL reported.

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After a 15-year argument over who will foot the bill for a proposed bridge between Scandinavia and Europe, Germany and Denmark have finally reached a compromise and will sign an official agreement to seal the deal this week. The pending treaty will pave the way to build a massive bridge spanning the two countries by 2018, greatly expediting travel and trade.

The two nations have been at loggerheads for 15 years over who would pay for the bulk of this enormous bridge, but after a year of steady negotiations, Germany and Denmark are ready to sign an agreement. The proposed bridge will span the 19km gap between the German island of Fehmarn and the Danish island of Lolland in the Baltic Sea. The estimated cost will be EUR 5.6 billion (USD 8.2 billion).

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