EFTA extends Iceland Icesave deadline

The Icelandic authorities have been given an extended deadline to respond to a letter from the EFTA concerning the Icesave dispute.

ESA, the EFTA Surveillance Authority, sent a letter in May detailing that it feels the Icelandic government must pay the Netherlands and the United Kingdom back the minimum contractual amount for the money the two countries spent in compensating customers of the failed Icesave internet bank, run by Iceland’s Landsbanki.

RUV reports that the Icelandic government was given two months to respond to the letter or face possible expulsion from the European Free Trade Association. The original deadline was next Monday, but has now been extended to the beginning of September – possibly because of ongoing negotiations between the three countries involved.

Iceland has always expressed its intention to pay, but the EFTA wants to know when.

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