Iceland pre-and post-collapse: Small or big steps?

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2014-12-05 (All day)

The Winding-up boards of the banks have been waiting to be called to a meeting with the committee overseeing the lifting of the capital controls – and now an invitation has landed on their tables for a meeting next Tuesday. Remains to be seen what the message is.

In the meantime, there is the extension of the Landsbanki bond agreement and a payment of ISK400bn to priority claimants in Landsbanki, announced yesterday, all explained here. The agreement has been changed from what it was originally but at least decisions have been taken and the Brits have had some happy tidings.
The question is if something more will follow, hen’s or horse’s steps.
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The last paragraph in the MInFin’s press release is interesting.
The settlement of priority claims marks a major step forward in the winding-up proceedings of the failed banks and will assist the Government in implementing a comprehensive capital account liberalisation strategy.
So is there now a strategy. Not sure yet, more needs to be seen. ...