Iceland Won’t Settle Icesave Dispute ‘at Any Price’
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Iceland’s new Economy Minister Arni Pall Arnason wants to make clear to the U.K. and Netherlands his government won’t negotiate a depositor claims settlement at any price and may resort to the courts in pursuit of better terms.
Arnason, 44, formerly the country’s social affairs minister who took over the economy portfolio after Gylfi Magnusson was dismissed in a Sept. 2 cabinet reshuffle, said the dispute over $5.1 billion Iceland owes the U.K. and Dutch in depositor claims may need to be resolved through the European Free Trade Association’s court in Luxembourg.