Posts Tagged ‘Parliament’
Monday, April 12th, 2010
Prime Minister’s Office Press Release
The Icelandic government welcomes the report published today by the Special Investigative Commission of the Parliament on the causes of the collapse of the Icelandic banking system. Consisting of independent experts, the investigative commission was established by the Icelandic parliament in December 2008. The report is the first comprehensive analysis of the causes of the collapse of the three largest Icelandic banks in the midst of the global financial crisis of October 2008.
“This important report will enable us to look forward by understanding what took place here in the months and years leading up to the banking collapse. We now need to acquaint ourselves with the report in its entirety. Iceland needs closure in order to fully focus on and finish the reconstruction which lies ahead. I believe that this report with its difficult and painful truths is a crucial part of that process”, said Prime Minister Johanna Sigurdardottir.
“Mistakes were certainly made. The private banks failed, the supervisory system failed, the politics failed, the administration failed, the media failed, and the ideology of an unregulated free market utterly failed. This has called for a fundamental review of many elements of our society. In that respect, democracy, the rule of law and close international cooperation have been and will continue to be our strongest weapons.”
“Rigorous reform has already been implemented. My goverment has systematically introduced changes to legislation and working procedures of the overall government and its institutions, but also related to the media and political parties. The investigative report is a stern reminder of the necessity for continuing this work. Iceland´s fundamentals remain strong and we will overcome the present economic difficulties.”
The Icelandic government has appointed a commission of independent experts to make further recommendations as to how the government and governmental institutions should respond to the report. In the coming days, the government will carefully study the report´s analysis and findings, consisting of over 2000 pages, and make decisions accordingly.
A summary and excerpts of the report in English are available at: www.sic.althingi.is
A webcast and recording of the press briefing by SIC in English will be available at www.althingi.is.
Reykjavik, April 12, 2010
Enclosed is the Press Release in pdf. format:
PRIME MINISTER’S OFFICE
Stjórnarráðshúsinu, 150 Reykjavik
tel: 354 545 8400 fax: 354 562 4014
postur@for.stjr.is
www.gowernment.is
Tags: Banking System, Closure, Collapse, Economic Difficulties, Global Financial Crisis, Goverment, Independent Experts, International Cooperation, Investigative Report, Johanna, Midst, Painful Truths, Parliament, Political Parties, Prime Minister, Private Banks, Reconstruction, Rule Of Law, Stern Reminder, Supervisory System
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Monday, April 12th, 2010
The Icelandic parliament’s long-delayed report into the collapse of the main banks has now been released to the public.
Sections of the report can already be read in English here.
A press conference is being held by the report’s authors and the leaders of the main political parties will comment of their initial reactions this afternoon.
Some early highlights from the report are that GBP 200 million was taken from Icesave in the UK to Iceland in the last weekend of March 2008 with the knowledge of the government and central bank. All the banks shorted the Icelandic krona in order to maximise their own profits. The banks loaned money to their owners with no security. Government since the crash is described by the report as lacklustre.
More on IceNews as it comes.
The 2,000 page report took 15 months to complete, despite an initial maximum time allowed of just 10 months. Committee members blame an underestimation of the size of the task for the delay.
Tags: 10 Months, 15 Months, Authors, Banks, Collapse, Committee Members, Crash Report, Iceland, Icelandic Krona, Icesave, Initial Reactions, Maximum Time, Money, Parliament, Political Parties, Profits, Public Sections
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Monday, April 12th, 2010
The Parliamentary Investigative Committee, set up to investigate the Icelandic banking collapse, will release its report today.
Members of the committee will introduce the basic conclusions of their findings at Iðnó, a restaurant and theatre in downtown Reykjavik, at 10:30am today. The press conference will be broadcast live on visir.is and the report will also be available for viewing on parliament’s website shortly after.
IceNews will be covering the proceedings as they unravel.
Tags: Collapse, Committee Report, Conclusions, Investigative Committee, Members, Parliament, Proceedings, Reykjavik
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Friday, April 9th, 2010
Press Release: The Special Investigation Commission (SIC), which was established by Althingi, the Icelandic Parliament, in December 2008, to investigate and analyse the processes leading to the collapse of the three main banks in Iceland, will deliver its report to Althingi on Monday 12th of April.
The Special Investigation Commission will hold a press conference on its report at 10:30 on Monday 12th of April. A webcast will be available at althingi.is. A summary and excerpts in English will be available at sic.althingi.is at the same time.
For further information please e-mail althingi@althingi.is
Tags: Althingi, April, Banks, Collapse, E Mail, Excerpts, Investigation Commission, Parliament, Press Release, Sic, Webcast
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Friday, April 9th, 2010
The long-awaited report on the causes of the October 2008 banking collapse by the Althingi parliament’s investigation committee will be published on Monday. The employees of the Reykjavík City Theater have decided to read the report in its entirety.
Tags: Althingi, Awaited Report, Collapse, Crisis Report, Iceland, Investigation Committee, Parliament, Reykjavik City
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Wednesday, April 7th, 2010
Minister of Justice Ragna Árnadóttir and Minister of Economic Affairs Gylfi Magnússon, who are not associated with any political party and don’t have a seat in parliament, are the most popular ministers in Iceland, according to a new survey.
Tags: Economic Affairs, Iceland, Independent, Minister Of Justice, New Survey, Parliament, Ragna
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Monday, April 5th, 2010
Chairwoman of the Althingi parliament’s General Committee Steinunn Valdís Óskarsdóttir is aiming towards completion of a bill on a constitutional parliament shortly after Easter. If the bill is passed before the parliament’s summer vacation, people could be elected to a constitutional parliament in October this year.
Tags: Althingi, Chairwoman, Easter, General Committee, Iceland, Parliament, Summer Vacation
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Wednesday, March 31st, 2010
The Icelandic government yesterday decided to accept the Foreign Minister’s recommendation to close the Iceland Defence Agency.
The Iceland Defence Agency is a civilian organisation under the Ministry for Foreign Affairs which deals with Iceland’s security including operating radar stations and co-ordinating air defences. Iceland does not have a military and the Defence Agency was created in 2008 as a response to the final departure of US forces from Iceland in late 2006.
The operations of the Defence Agency would be split among other agencies including the coastguard.
The government will now draft a bill to be voted on in parliament.
Tags: Air Defences, Air Iceland, Civilian Organisation, Coastguard, Defence Agency, Doors, Final Departure, Foreign Affairs, Foreign Minister, Military Defence, Parliament, Radar Stations
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Friday, March 26th, 2010
All parties in the German parliament have declared emphatic support for the European Union beginning accession talks with Iceland. According to the Lisbon Treaty, the parliaments of all EU member states must approve of the talks before they can formally begin.
Tags: Accession, Eu Member States, European Union, German Parliament, Germany, Iceland, Lisbon, Parliament, Parliaments
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Friday, March 26th, 2010
Icelandic parliament on Tuesday passed a legislation banning striptease in Iceland and barring clubs from making profit from the nudity of employees from July 1, 2010, according to news reaching here from Reykjavik.
Tags: Iceland, July 1, Legislation, Nudity, Parliament, Reykjavik, Striptease
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Thursday, March 25th, 2010
The Progressive Party, the second-largest party of the opposition in Iceland’s parliament, presented various suggestions yesterday on how to lead the country through the economic crisis. One suggestion was a national government, a coalition of all parties.
Tags: Economic Crisis, National Government, Opposition, Parliament, Progressive Party, Suggestion
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Thursday, March 25th, 2010
It is unlikely anything important will happen in the Icesave issue before British elections take place this spring. That is the opinion of Icelandic Independence Party leader Bjarni Benediktsson following London meetings with three British parliamentary committees. He added that it is still extremely unclear what will come next in the trilateral dispute.
Icelandic delegates of the Althingi foreign affairs committee have been meeting in London this week in London with the British parliament’s foreign affairs and finance committees, as well as the UK-Iceland co-operation committee.
The purpose of the meetings was to broaden understanding of the varying points-of-view on Icesave in both countries and to improve personal tied between the parliaments of the two countries.
Committee head Arni Thor Sigurdsson told RUV that he and his colleagues had experienced lots of goodwill towards Iceland during their visit to London. Meanwhile, Bjarni Benediktsson said he got the impression the parliament in the UK seems to be pulling back from the Icesave issue and said that all three committees the Icelanders met believed that nothing will happen before the General Election due for 6th May.
Tags: Bjarni, British Elections, British Parliament, Colleagues, Committee Head, Delegates, Finance Committees, Foreign Affairs Committee, General Election, Goodwill, Icesave, Independence Party, London Meetings, Parliament, Parliament Uk, Parliamentary Committees, Parliaments, Party Leader, Thor, Uk Elections
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Wednesday, March 24th, 2010
Strip shows have been banned in Iceland following a vote in the Althingi parliament yesterday.
A total of 31 of Althingi’s 63 MPs from across the political spectrum supported the bill. It was enthusiastically supported by all parties except The Movement and two of the Independence Party MPs abstained. No votes at all were cast against the bill, mbl.is reports. Some MPs chose not to be present to vote.
According to the new law, it is forbidden to offer strip shows or to offer the nudity of staff or others on-premises by any other means.
It was former Left Green MP and minister Kolbrun Halldorsdottir who first put the proposal forward. But the bill’s key backer now is Siv Friedleifsdottir, a Progressive Party MP. Steinunn Valdis Oskarsdottir of the Social Democrats described the parliamentary decision as historic.
Tags: Althingi, Backer, Iceland, Independence Party, Mp, Mps, Nudity, Outlaws, Parliament, Political Spectrum, Premises, Progressive Party, Proposal, Social Democrats, Strip Shows, Striptease, Valdis, Vote
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Tuesday, March 23rd, 2010
The Confederation of Icelandic Employers (SA) felt that the government rifted its stability pact with the employment market yesterday when the majority of MPs in the Icelandic parliament, Althingi, passed a legislation on an extended quota for monkfish.
Tags: Althingi, Confederation, Employment Market, Legislation, Mps, Parliament, Quota, Stability Pact
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Tuesday, March 23rd, 2010
The investigation committee of the Icelandic parliament, Althingi, responsible for investigating the causes of the banking collapse of 2008, announced yesterday that their long-awaited report will be published on April 12, the parliament’s first working day after the Easter break.
Tags: April, Awaited Report, Collapse, Crisis Report, Iceland, Investigation Committee, Parliament
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Tuesday, March 23rd, 2010
The Icelandic parliament, Althingi, passed a legislation submitted by Minister of Transport Kristján L. Möller yesterday, which bans air mechanics from going on strike until November 30 this year. Thus yesterday’s strike was lifted and air commute could resume.
Tags: Althingi, Going On Strike, Legislation, Mechanics, Minister Of Transport, Parliament, Resume
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Tuesday, March 23rd, 2010
The Special Investigation Commission (SIC), established by the Icelandic Parliament, is finalizing its report on the events leading to the downfall of the Icelandic banks in 2008, and related events. The report will be made public on 12 April 2010, the first working day of Parliament after Easter.
Tags: 12 April, Banks, Downfall, Easter, Parliament, Related Events, Sic
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Monday, March 22nd, 2010
The finance committee of the Norwegian parliament has voted to loan funds to Iceland regardless of the ongoing Icesave dispute. It was the representatives of the Christian Democratic Party who pushed for the resolution.
The committee declared that Norway should loan Iceland money regardless of the ongoing Icesave dispute with Iceland on one side and the Netherlands and the United Kingdom on the other, ABC Nyheter reported.
The Norwegian Storting parliament will discuss the committee report tomorrow and it is thought highly likely that parliament will vote to approve the committee’s recommendation. The committee also stated its opinion that Iceland has the right to bring the Icesave dispute to an impartial international court; a move the Netherlands and the UK have opposed.
Representatives of all parties in the committee, except the Christian Democrats, made the qualification that Norwegian funds should be made available to Iceland only when the IMF review is compete and Iceland is seen to stand by its debts according to EU law.
Hans Olav Syversen of the Christian Democrats said it is clear that Norway is ready to lend to Iceland regardless of Icesave but that it is unclear what effect this will have on the IMF programme.
This news effectively means that Norway is exerting political pressure on the IMF to complete its held-up review of its Iceland recovery package – but it does not mean that Norway is about to break ranks with the IMF and loan funds unilaterally.
Tags: Abc, Break, Christian Democratic Party, Christian Democrats, Committee Report, Deadlock, Debts, Finance Committee, Iceland, Icesave, Imf, Loan Funds, Netherlands, Norway, Norwegian Parliament, Nyheter, Olav, Parliament, Report Tomorrow, Storting
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Friday, March 19th, 2010
The state-run Housing Financing Fund (HFF) now owns 570 apartments, according to statistics compiled for the Althingi parliament’s Budget Committee this week. At the beginning of March, the HFF came into possession of 120 apartments in east Iceland.
Tags: Althingi, Apartments, Budget Committee, East Iceland, Hff, Parliament, Possession, Statistics
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