The Icesave issue discussed in London

Press release No. 5/2010

The negotiation committee representing the Icelandic government met today with representatives of the UK and Dutch governments in the Icelandic embassy in London. At this meeting the negotiation committee presented a proposal for a new solution to the Icesave dispute, based on the agreement reached between government and opposition parties in the Icelandic parliament Althingi.

Heading the negotiation committee is US attorney Lee C. Buchheit. Other members of the committee are the Permanent Undersecretaries of the Ministries of Finance and Foreign Affairs, Guðmundur Árnason og Einar Gunnarsson respectively, Icelandic attorneys Jóhannes Karl Sveinsson and Lárus Blöndal, the latter representing all the parliamentary opposition parties. They are advised by Donald J. Johnston, former Secretary-General of the OECD, as well as experts from the corporate advisory firm Hawkpoint and the international law office Ashurst.

Following the meeting the parties are assessing the situation.

The Ministry of Finance, February 15 2010