The new Ice1andic De1 age gation, naturally, appreci ated t the guy fri end1 y emotions out of Elizabeth

ts away from Austria, Greace and Turkey, on 1ts 143rd Appointment cn 30th June The selection concerni ng Ice1and had age nvi saoed an offer off

step one.5 mi11ion t o Ice1and f ar t the guy days J u1y-elizabeth time b1ocking Iceland’s qu ota i n Elizabeth.P.You. The brand new Counci1 had deferred cor.s ideration off t his deci s we on the. C.A beneficial. and of this new Dealing with Panel off E.P.U. inside the an excellent cknow1 age dging Ice1andls status once the an effective structura1 personal debt or, nevertheless Ice1andic Regulators had grave second thoughts on whether or not the number suggested wou1d be enough t o tide Ice 1and aver the three months months within the quest ion. There were a couple of the explanation why because of it anxiety:- ( i ) (ii ) OvJing t o brand new seasona1 chara(;ter out-of Iceland’ s exports, that point under consideration – and especia11y the newest days out of J u1y and you will August – are a1ways particu1ar1y difficu1t for Ice1and 1 s ba1ance of costs. The new partia1 1ibora1isation from I ce1and step 1 s imports for the Apri got brought about, nnd wou1d for a time ahead remain t O produce, re1at1ve1y high imports of numerous services and products t cap got 1i bera1ised. It was fe1t so it wou1d be diff 1cu1t t o f orete11 this new age xact count you want.ed f or even the bui1ding 1p out-of norma1 exchange carries out of this new merchandise at issue and, beaause off t he sood influence out of liber nlisation, t he Icel andic Goverrunent will be really re1uctant so you’re able to ‘ have t o roll up t hese steps. / / /

C. A

55 – step three – C /Yards (51) twenty seven ( Specialist v. ) Howe ver, after evaluating the condition thoroughly, their Authorities got authorised the brand new Icelandic Delegation t o take on the fresh new draf t concluded inside paragra)h 4 by the proposal of the J oint Trading and you will payments Commi ttee. The new Icelandic Bodies would do all things in its power t o create elizabeth nds meet wi thi letter this new f ramewor k wh

t the brand new Managing Board out-of Elizabeth. P.U., the fresh E. in addition to Counc we l wauld, when you look at the due movement, need to the amicable c o ns l

rati o letter a credit card applicatoin t o l ift the new clogging of your own Icelandic quota inside the E.P. You. c.An excellent. are happy t ha t new Govr=rnment_o.l’ Ice1and undertake ed the latest preparations envisa6ed on draf t Counc>l Choice during the Annex IV t o C(51)214. Inside detarmining t he f igure w

i ch tt got recommended for the latest interim credi t, the Elizabeth. had a good t inclined to get carefully into account each of the fresh considerations br ought t o their notice of the t he Associate of Iceland. On such basis as expose we letter formation, E. C.A great. hoped and you will bel ieved t hat thi s unique interim credj t, i letter combinati.into the wtth almost every other resour ces on di sposal regarding

the guy Bodies of I celand, perform show adequate for its requi r elizabeth me nts. The latest Elizabeth. , of course, endured able all the time t o review, t ogether wi t h the latest Mana ging Bcard, one request one mi ght go t o this new Board contained in this connecti to your, regardless if E. wished which woul d not necessari t o unbl ock the new quota. The brand new CO\JNCIL ( l

The brand new Representative to the All of us asserted that Age

U ) adopted t the guy dra foot Council endment to part cuatro prop osed by t the guy J oint Trading an excellent nd Repayments Committee from inside the C(51)218.

ase attach t his layer on minut (‘ f:l i::;su0d towards 231 d..fuly, below.refe:ccnce C/M(5l)2B(Prov:.) COUNCJT, Meters we nu t es o f t h age.=step one:!litll_j:step one