President Ólafur Ragnar Grímsson did not sign the Icesave-bill into law at a meeting with the cabinet yesterday. This was highly unusual, since usually the President would use the occasion to sign all laws ratified by Althingi, Iceland’s Parliament. . .

Many take this as an indication that the President will refuse to sign. He is in a very difficult spot. When he signed a previous bill on Icesave, passed by Althingi in late August 2009 he indicated that the reason was that many preconditions had been set in that bill. Those conditions have been watered out on the insistence of the British and Dutch governments. . .

Two days ago about 35 thousand people have signed a petition urging the President not to sign the bill. At the time of writing in the afternoon of January 1 the number has gone up to almost 55 thousand. 01-Jan-10.

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