The brand new Ice1andic De1 age gation, needless to say, appreci ated t the guy fri end1 y thoughts out-of E

ts off Austria, Greace and Chicken, in the 1ts 143rd Meeting cn 30th June The decision concerni ng Ice1and got elizabeth nvi saoed a grant from

C. A good

step 1.5 mi11ion t o Ice1and f ar t the guy months J u1y-elizabeth big date b1ocking Iceland’s qu ota i n Age.P.You. The Counci1 had deferred cor.s ideration out of t his deci s we on. C.A good. and of new Handling Board of Elizabeth.P.U. within the an excellent cknow1 elizabeth dging Ice1andls standing as a beneficial structura1 personal debt or, nevertheless Ice1andic Authorities got grave doubts regarding whether or not the number advised wou1d be adequate t o tide Frost 1and aver the 3 days period from inside the quest ion. There have been a few main reasons because of it stress:- ( we ) (ii ) OvJing t o brand new seasona1 chara(;ter off Iceland’ s exports, that time under consideration – and you will especia11y the newest months away from J u1y and you will August – was a1ways particu1ar1y difficu1t to have Ice1and step one s ba1ance away from costs. New partia1 1ibora1isation out-of I ce1and step one s imports in Apri had brought about, nnd wou1d for a time in the future remain t O bring about, re1at1ve1y higher imports of several merchandise t hat ended up being 1i bera1ised. It had been fe1t so it wou1d become diff 1cu1t t o f orete11 the new e xact count you would like.ed f or perhaps the bui1ding 1p away from norma1 exchange carries away from the commodities under consideration and you will, beaause off t he sood dictate away from liber nlisation, t the guy Icel andic Goverrunent was very re1uctant in order to ‘ keeps t o roll up t hese actions. / / /

This new Age

55 – step 3 – C /Yards (51) twenty-seven ( Professional v. ) Howe ver, once evaluating the condition carefully, their Regulators got authorised the latest Icelandic Delegation t o deal with the latest draf t ended during the paragra)h 4 by the proposition of one’s J oint Trade and you will repayments Commi ttee. Brand new Icelandic Government should do everything in the power t o create age nds fulfill wi thi letter the fresh f ramewor k wh

t the fresh Managing Board regarding Age. P.You., the fresh new Elizabeth. as well as the Counc i l wauld, into the owed path, need with the amicable c o ns l

rati o n an application t o l ift the brand new blocking of one’s Icelandic quota inside E.P. U. This new Affiliate to your Us mentioned that Age.c.Good. was happy t bdsm ha t this new Govr=rnment_o.l’ Ice1and take on ed brand new arrangements envisa6ed in the draf t Counc>l Decision at Annex IV t o C(51)214. Into the detarmining t he f igure w

i ch tt had recommended for the new interim credi t, the latest E. got a beneficial t inclined to grab carefully into account each of brand new considerations br ought t o the focus from the t he Representative regarding Iceland. On such basis as expose we letter development, E. C.A beneficial. expected and you may bel ieved t cap thi s special interim credj t, i letter combinati.with the wtth most other resour ces within di sposal regarding

the guy Regulators out-of I celand, perform show enough for the requi roentgen e me personally nts. , of course, stood ready constantly t o remark, t ogether wi t h the fresh Mana ging Bcard, one consult you to mi ght be placed t o new Board in this connecti towards the, whether or not Age. expected this woul d not necessari t o unbl ock the fresh new quota. New CO\JNCIL ( l

You ) observed t the guy dra legs Council endment so you’re able to section 4 prop osed because of the t he J oint Trade an excellent nd Costs Committee during the C(51)218.

ase attach t his layer on minut (‘ f:l i::;su0d to your 231 d..fuly, below.refe:ccnce C/M(5l)2B(Prov:.) COUNCJT, Yards i nu t es o f t h elizabeth.=1:!litll_j:step one