ts away from Austria, Greace and you may Chicken, from the 1ts 143rd Meeting cn 30th June The choice concerni ng Ice1and got age nvi saoed a give from

step one.5 mi11ion t o Ice1and f ar t the guy days J u1y-e big date b1ocking Iceland’s qu ota i letter Age.P.U. The fresh Counci1 had deferred cor.s ideration regarding t their deci s we to your. C.A good. as well as the fresh new Managing Panel of Age.P.U. within the a good cknow1 e dging Ice1andls reputation because an effective structura1 debt otherwise, although Ice1andic Authorities had grave doubts as to whether or not the count advised wou1d be adequate t o wave Frost 1and aver the 3 months several months into the quest ion. There are one or two explanations why for it anxiety:- ( we ) (ii ) OvJing t o the latest seasona1 chara(;ter regarding Iceland’ s exports, that time in question – and especia11y brand new days off J u1y and you will August – is a1ways particu1ar1y difficu1t to have Ice1and 1 s ba1ance out of repayments. The fresh new partia1 1ibora1isation from I ce1and step one s imports into the Apri got caused, nnd wou1d for a while in the future keep t O produce, re1at1ve1y highest imports of numerous goods t cap was actually 1i bera1ised. It absolutely was fe1t which wou1d feel diff 1cu1t t o f orete11 the newest elizabeth xact matter need.ed f or the bui1ding 1p out-of norma1 exchange stocks away from the fresh new merchandise involved and, beaause away from t he sood determine of liber nlisation, t the guy Icel andic Goverrunent might be extremely re1uctant in order to ‘ have t o roll-up t hese actions. / / /

C. An excellent

55 – step 3 – C /Yards (51) twenty-seven ( Pro v. ) Howe observar, shortly after evaluating the problem very carefully, their Bodies got authorised the newest Icelandic Delegation t o take on the latest draf t concluded when you look at the paragra)h 4 by suggestion of the J oint Trading and you may payments Commi ttee. New Icelandic Government would do all things in its power t o build e nds satisfy wi thi letter this new f ramewor k wh

t brand new Controlling Board off Age. P.U., the fresh Age. while the Counc i l wauld, for the owed path, capture towards the friendly c o ns l

rati o letter a software t o l ift this new blocking of one’s Icelandic quota during the Elizabeth.P. You. c.A great. try pleased t ha t the brand new Govr=rnment_o.l’ Ice1and accept ed brand new preparations envisa6ed on draf t Counc>l Choice during the Annex IV t o C(51)214. For the detarmining t he f igure w

i ch tt had suitable for the brand new interim credi t, brand new Age. got a great t tempted to need carefully into account each one of the brand new considerations br need t o the desire from the t the guy User of Iceland. On the basis of present i n development, Elizabeth. C.A fdating beneficial. wished and bel ieved t cap thi s unique interim credj t, we letter combinati.towards wtth almost every other resour ces from the di sposal of

the guy Government out-of We celand, manage confirm sufficient for the requi r e myself nts. The brand new E. , needless to say, endured ready at all times t o review, t ogether wi t h the Mana ging Bcard, any demand you to definitely mi ght be put t o this new Panel within connecti into the, although Age. expected that it woul d not be necessari t o unbl ock brand new quota. The new CO\JNCIL ( l

Brand new Representative towards Us mentioned that Elizabeth

You ) accompanied t he dra legs Council endment in order to part 4 prop osed because of the t the guy J oint Trading a beneficial nd Costs Panel when you look at the C(51)218.

ase mount t their sheet on the minut (‘ f:l i::;su0d for the 231 d..fuly, below.refe:ccnce C/M(5l)2B(Prov:.) COUNCJT, M i nu t parece o f t h age.=1:!litll_j:step 1