The brand new Ice1andic De1 e gation, however, appreci ated t the guy fri end1 y ideas of E

The brand new Ice1andic De1 e gation, however, appreci ated t the guy fri end1 y ideas of E

ts off Austria, Greace and you may Turkey, at the 1ts 143rd Fulfilling cn 30th June The choice concerni ng Ice1and got e nvi saoed an offer regarding

C. An excellent

step 1.5 mi11ion t o Ice1and f ar t the guy days J u1y-e go out b1ocking Iceland’s qu ota i n Age.P.You. The fresh Counci1 had deferred cor.s ideration off t their deci s i with the. C.A great. as well as the fresh new Controlling Panel of E.P.U. inside the a good cknow1 elizabeth dging Ice1andls updates since a structura1 debt otherwise, nevertheless Ice1andic Regulators got grave second thoughts concerning if the count suggested wou1d be sufficient t o tide Ice 1and aver the 3 months several months in journey ion. There had been a few reasoned explanations why because of it anxiety:- ( i ) (ii ) OvJing t o the brand new seasona1 chara(;ter regarding Iceland’ s exports, that point involved – and you may especia11y brand new days from J u1y and August – is a1ways particu1ar1y difficu1t to own Ice1and step one s ba1ance away from payments. The brand new partia1 1ibora1isation off I ce1and 1 s imports during the Apri had brought about, nnd wou1d for some time ahead continue t O end up in, re1at1ve1y highest imports of several items t hat was 1i bera1ised. It absolutely was fe1t that it wou1d be diff 1cu1t t o f orete11 the fresh elizabeth xact amount you need.ed f or perhaps the bui1ding 1p off norma1 exchange holds away from the new products concerned and, beaause out-of t the guy sood influence out of liber nlisation, t he Icel andic Goverrunent would-be extremely re1uctant to ‘ have t o roll-up t hese steps. / / /

The fresh new Age

55 – 3 – C /M (51) twenty seven ( Specialist v. ) Howe observar, once evaluating the matter carefully, their Authorities had authorised the newest Icelandic Delegation t o undertake the brand new draf t finished in paragra)h 4 by the suggestion of your J oint Trading and repayments Commi ttee. The new Icelandic Regulators should do everything in the fuel t o build age nds see wi thi letter new f ramewor k wh

t new Managing Board out of E. P.U., the fresh Age. together with Counc we l wauld, from inside the owed course, get with the friendly c o ns l

rati o letter a loan application t o l ift new blocking of Icelandic quota for the Elizabeth.P. You. The fresh Member for the All of us said that Elizabeth.c.An excellent. is actually grateful t ha t this new Govr=rnment_o.l’ Ice1and undertake ed this new plans envisa6ed regarding draf t Counc>l Decision from the Annex IV t o C(51)214. Into the detarmining t he f igure w

i ch tt got recommended for the fresh new meantime credi t, the brand new E. had a great t inclined to bring very carefully under consideration all of the latest considerations br need t o the attention by t the guy Associate away from Iceland. Based on expose i letter creation, Elizabeth. C.An excellent. expected and you will bel ieved t hat thi s unique meantime credj t, we letter combinati.on wtth most other resour ces at the di sposal of

the guy Government away from I celand, perform show enough for its requi roentgen age me nts. , naturally, stood able constantly t o review, t ogether wi t h this new Mana ging Bcard, people consult you to mi ght be placed t o the latest Panel contained in this connecti on, even if E. expected this woul d never be necessari t o unbl ock the quota. Brand new CO\JNCIL ( l

U ) adopted t the guy dra legs Council endment so you’re able to section 4 prop osed because of the t the guy J oint Trade an effective nd Repayments Panel within the C(51)218.

ase mount t their layer to the minut (‘ f:l i::;su0d for the 231 d..fuly, less than.refe:ccnce C/M(5l)2B(Prov:.) COUNCJT, Yards i nu t es o f t h elizabeth.=step one:!litll_j:step 1

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