The capital controls will no longer be limited to a certain time period but lifted when financial stability in Iceland can be guaranteed, according to the proposal of a committee comprised of representatives of all parties.
Photo by Páll Stefánsson.
The proposal was sent to the chairpersons of all parties last Thursday. The committee requested a meeting with them to discuss the proposal before Christmas, Fréttablaðið reports.
The proposal states that the current time frame—that the capital controls are to be lifted by December 31, 2013—is not long enough and that “a fixed deadline is not likely to obtain the right motives to ensure the successful progress of the abolishment strategy.”
The committee was established in September 2011.
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