In These New Times

A new paradigm for a post-imperial world

Turnaround in Norway

Posted by seumasach on March 12, 2010

Iceland Weather Report

March 11, 2010

Somewhat unexpectedly, the Norwegian Foreign Minister announced today that Norway is no longer making the IMF’s review of their aid plan a condition for awarding loans to Iceland. This is reported by RÚV.

Norway and all the other Scandinavian countries have, until now, made potential aid to Iceland conditional on the IMF plan. The IMF plan, meanwhile, has been conditional on the resolution of the Icesave dispute.

In other words, accepting the terms of the UK and Holland in Icesave been a precondition to getting any sort of financial help from our neighbours.

The announcement comes in the wake of reports of growing pressure within the Norwegian political sphere on Norwegian authorities to re-think their stringent conditions.

I must say I’m pleased. Icesave has become much more than the sum of its parts, and using it as a form of coercion is undignified for all concerned – whichever way it finally ends.

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