Finance Minister Anders Borg
international politics

Borg Stands By His Icesave Remarks

Sweden's Finance Minister Anders Borg has defended himself against criticism coming from Iceland after his statement that a country "can't vote itself away from its obligations." His opinion is completely in line with the rest of the Nordic countries, he adds.

"We want to help Iceland as much as possible," Borg told news agency TT, "which builds upon Iceland carrying out an IMF program."

Borg's comment came after Icelanders voted overwhelmingly to strike down the so-called Icesave law, which would provide compensation to the British and Dutch governments for the losses they incurred when the bank Icesave collapsed in 2008.

Iceland's foreign minister had called Anders Borg's statement a serious distortion of what the referendum was really about.

But Borg says that he only meant to encourage the country to continue negotiations.

"It was partly an incorrect interpretation of my comment. The Icelandic government stated that they had negotiated a contract with the Netherlands and Great Britain and that it was that they were ready to support and that means that they have to meet their obligations."

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