The Government of Iceland has decided to hold a national referendum on the so-called Icesave legislation, following broad consultations with both coalition and opposition parties as well as employers' associations and labor unions. The referendum is expected to take place late February. >>>

The President of Iceland has declined to sign a law authorising a state guarantee for repayment of loans provided by the UK and the Netherlands to the Depositors' and Investors' Guarantee Fund, intended to cover payment of the minimum deposit guarantees to depositors in the UK and Netherlands branches of the failed Landsbanki Íslands hf. Despite the President's decision, the government of Iceland remains fully committed to implementing the bilateral loan agreements and thus the state guarantee provided for by the law.

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"The Nordic countries have every opportunity to be world leaders in innovative and climate-friendly energy. Investments in environmental technology and the sustainable use of energy resources will also create positive opportunities for growth," the Icelandic Prime Minister, Johanna Sigurdardottir, told a press conference held by the Nordic prime ministers on Thursday. >>>