British and Dutch authorities met with Icelandic authorities yesterday, commenting on the Icesave legislation passed by the Icelandic parliament on August 28, which introduced certain criteria and preconditions to the state guarantee on the Icesave loans. . .

According to Morgunbladid’s sources, the UK and the Netherlands propose, among other items, that the state guarantee, which is supposed to expire in 2024, be extended by 16 years, until 2040. . .

Vice-chair of the Independence Party Thorgerdur Katrín Gunnarsdóttir iterated that it is illegal for the government to accept changes to the Icesave legislation without the matter being brought up in parliament again.

Höskuldur Thórhallsson, the Progressive Party’s representative on the Budget Committee, agreed, adding that if Iceland’s negotiators don’t accept the preconditions, then the Icesave agreement in its entirety has been annulled.  18-Sep-09.

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