Iceland remains committed in the Icesave issue
On 5 January 2010, Iceland's President Mr. Olafur Ragnar Grimsson decided not to sign a law passed by the Parliament of Iceland on 30 December 2009, which provides for a state guarantee of repayment of loans provided by the UK and the Netherlands (Icesave loans). The Government of Iceland is preparing a national referendum no later than early March. Iceland has been in close contact with the Governments of the UK and the Netherlands, other partner countries and the EU and the IMF to explain the next steps.