2008-11-17 :: icenews.is :: Important to reach agreements regarding the Icelandic banks

http://www.icenews.is/index.php/2008/11/17/important-to-reach-agreements-regarding-the-icelandic-banks/

Important to reach agreements regarding the Icelandic banks

By Lenka Vaiglova on Nov 17, 2008 in Finance and Business, Iceland, MBL, Politics

Icelanders need to establish extensive unity about future measures to address the current situation. The social partners have suggested to the government extensive collaboration on measures to respond to the financial crisis. The Chairman of the Board of Directors of the Confederation of Icelandic Employers (SA), Thor Sigfusson, emphasized the importance of reaching agreements with Iceland’s neighbouring countries on the arrangement of the deposit insurance schemes at the Icelandic banks. Sigfusson also said the goal should be that the current creditors of the Icelandic banks become shareholders in the new state banks.

This materialized at an open meeting held by the Confederation of Icelandic Employers on the situation in the Icelandic economy and the future prospects. Sigfusson stated the importance of ensuring assistance by IMF for Iceland. He said, however, that if this does not materialize, the authorities should immediately consider the unilateral adoption of another currency, EURO or even USD, in good collaboration with Iceland’s neighbouring countries.

Sigfusson furthermore pointed out how the government of Iceland needs to put much effort into interest assessment in connection with a possible EU membership of Iceland, and to create extensive unity with the coalition opposition and to prepare Iceland’s membership in the European Monetary Union. Such discussions should be launched without delay and the matter expedited to the extent possible.


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