The latest Ice1andic De1 age gation, obviously, appreci ated t he fri end1 y feelings of E

The latest Ice1andic De1 age gation, obviously, appreci ated t he fri end1 y feelings of E

ts away from Austria, Greace and Chicken, within 1ts 143rd Meeting cn 30th Summer The option concerni ng Ice1and got e nvi saoed an offer from

C. A

step 1.5 mi11ion t o Ice1and f ar t he weeks J u1y-age date b1ocking Iceland’s qu ota i letter E.P.U. New Counci1 had deferred cor.s ideration out-of t his deci s we into. C.A. and of this new Managing Panel off E.P.You. during the a cknow1 age dging Ice1andls status just like the a beneficial structura1 debt or, however the Ice1andic Regulators got grave doubts about if the amount recommended wou1d be adequate t o tide Freeze 1and aver the 3 months several months when you look at the quest ion. There have been two main reasons for this anxiety:- ( we ) (ii ) OvJing t o new seasona1 chara(;ter regarding Iceland’ s exports, that point involved – and you may especia11y the brand new months away from J u1y and August – is actually a1ways particu1ar1y difficu1t for Ice1and 1 s ba1ance out-of money. The newest partia1 1ibora1isation from We ce1and step 1 s imports inside Apri had triggered, nnd wou1d for a while to come keep t O result in, re1at1ve1y highest imports of a lot services and products t cap was actually 1i bera1ised. It was fe1t which wou1d become diff 1cu1t t o f orete11 the latest age xact amount you need.ed f or the bui1ding 1p regarding norma1 trading stocks away from the latest commodities involved and, beaause regarding t the guy sood determine out of liber nlisation, t he Icel andic Goverrunent could well be very re1uctant so you can ‘ provides t o roll-up t hese tips. / / /

The new Elizabeth

55 – 3 – C /M (51) 27 ( Expert v. ) Howe ver, immediately after evaluating the issue thoroughly, their Authorities got authorised new Icelandic Delegation t o undertake the latest draf t concluded within the paragra)h 4 by the suggestion of one’s J oint Exchange and you can money Commi ttee. This new Icelandic Government would do everything in their electricity t o create elizabeth nds satisfy wi thi n the f ramewor k wh

t the newest Handling Panel away from Age. P.U., new Elizabeth. and the Counc i l wauld, within the due path, grab into amicable c o ns l

rati o n a credit card applicatoin t o l ift the fresh new clogging of Icelandic quota during the E.P. You. New User for the All of us mentioned that E.c.An effective. try grateful t ha t the fresh new Govr=rnment_o.l’ Ice1and undertake ed the plans envisa6ed on the draf t Counc>l Decision during the Annex IV t o C(51)214. During the detarmining t the guy f igure w

i ch tt had suitable for the meantime credi t, brand new Age. had a good t inclined to simply take very carefully into account each of the latest factors br need t o its notice by the t he Affiliate of Iceland. Based on present we n creation, Age. C.A good. hoped and bel ieved t cap thi s special interim credj t, we n combinati.towards the wtth almost every other resour ces in the di sposal out-of

the guy Government regarding We celand, perform establish adequate for its requi r elizabeth me nts. , however, stood able all the time t o opinion, t ogether wi t h brand new Mana ging Bcard, any consult one mi ght go t o the latest Panel contained in this connecti towards the, even when Age. wished so it woul d not necessari t o unbl ock this new quota. The brand new CO\JNCIL ( l

You ) adopted t the guy dra base Council endment in order to part cuatro prop osed from the t the guy J oint Trade an excellent nd Repayments Panel inside the C(51)218.

ase attach t their sheet towards minut (‘ f:l i::;su0d towards 231 d..fuly, significantly less than.refe:ccnce C/M(5l)2B(Prov:.) COUNCJT, M i nu t es o f t h e.=1:!litll_j:step one

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