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Einar Haraldsson, spokesman for Icelandic Prime Minister Johanna Siguroardottir, confirmed Icelandic finance chief Steingrimur Sigfusson was in the Netherlands to meet informally with the country's finance minister, Wouter Bos, and British Finance Minister Paul Myners, the EUobserver reported.

Haraldsson said Friday's meeting was aimed at resolving the Icesave dispute regarding financial losses incurred by Icesave saving account holders as a result of the collapse of the online saving account's parent company, Landsbanki.

The October 2008 losses resulted in Iceland offering compensation to the British and Dutch governments for the nearly $5.27 billion the two governments spent on compensation to Icesave holders in their respective lands.

Both the United Kingdom and the Netherlands opposed the offer because it was at a rate limited by the growth of Iceland's economy. Instead the two governments sought full repayment of the Icesave losses. The EUobserver said the total sum sought represents nearly 40 percent of Iceland's gross domestic product.

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