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Classified cable from US Embassy Reykjavik on Icesave, 13 Jan 2010

• Wikileaks
 
01/13/2010

FM AMEMBASSY REYKJAVIK
TO RUEHC/SECSTATE WASHDC PRIORITY
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE PRIORITY
RUEKJCS/SECDEF WASHDC PRIORITY
RHEHNSC/NSC WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY

SIPDIS

TREASURY FOR SMART AND WINN, NSC FOR HOVENIER, DOD FOR FENTON

E.O. 12958: DECL: 01/13/2020
TAGS: ECON, EFIN, IC, PGOV, PREL
SUBJECT: LOOKING FOR ALTERNATIVES TO AN ICESAVE REFERENDUM

REF: REYKJAVIK 9

Classified By: CDA SAM WATSON FOR REASONS 1.4 (B) AND (D)

1. (C) Summary. CDA met with Ministry of Foreign Affairs Permanent
Secretary Einar Gunnarsson and Political Advisor Kristjan Guy Burgess
January 12 to discuss Icesave. After presenting a gloomy picture
of Iceland's future, the two officials asked for U.S. support. They
said that public comments of support from the U.S. or assistance in
getting the issue on the IMF agenda would be very much appreciated. They
further said that they did not want to see the matter go to a national
referendum and that they were exploring other options for resolving the
issue. The British Ambassador told CDA separately that he, as well as the
Ministry of Finance, were also looking at options that would forestall
a referendum. End Summary.

 
 
WHAT IS ICESAVE? From Wikipedia.......
 
 
Icesave dispute From Wikipedia, the free encyclopedia
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The Icesave dispute is a diplomatic dispute that began in 2008 between Iceland on one hand and the United Kingdom and the Netherlands on the other. The dispute is centered on the retail creditors of the Icelandic bank Landsbanki, which offered online savings accounts under the "Icesave" brand. The bank was placed into receivership by the Icelandic Financial Supervisory Authority (FME) on 7 October 2008. As a result, more than 400,000 depositors with Icesave accounts in the UK and the Netherlands were unable to access their money for at least 6 to 8 weeks, while waiting for payout from the Deposit Guarantee Schemes in these countries. Much of the public controversy arose around the UK's use of what the Icelandic government described as "anti-terrorism legislation" against Iceland.

 

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