The action will have an impact for decades to come.

Sigmundur Davíð Gunnlaugsson, Prime Minister and chairman of Framsókn, said at a press conference in Harpa today that it was a great pleasure that this day had arrived. It was indeed rare for such a large and complex project as this to be solved in such a short time and indeed, reality bears witness to this.

Sigmundur Davíð praised the staff of the Correction and said this would never have been accomplished if it were not for their work. The Prime Minister said that the results would fulfil promises and are in many ways better than anticipated.  Those who make use of the measures will receive a correction for all inflation above 4% and not 4.8% as was previously planned.

It is impossible to say anything other than that everything in excess of normal inflation expectations has been corrected. He says that this is a general measure that does not solve everyone's problems but considers others with other measures. He says one can see how the measure will have effects for decades to come, reduced payment burden and increased purchasing power.

Below, you can find news from the meeting: RÚV: This is what the ministers said today RÚV: 100 billion in principal reduction vb.is: Sigmundur: Corrected for all inflation above 4% mbl.is: Sigmundur went to bed excited eyjan.is: The Correction: The state treasury relinquishes 20 billion in tax revenue eyjan.is: Debt correction expedited: Will have effects for decades to come, says Sigmundur Davíð kjarninn.is: The average amount of the correction is 1.350 million ISK

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