1. Wide of streets by the pond in Reykjavik centre 2. Mid shot of a statue of Ingolfur Arnarson in front of Hallgr�mskirkja church 3. Close up of the statue''s head, tilt down to axe 4. Wide of Reykjavik''s centre, cars on street 5. Mid shot of two women walking on the street 6. Wide of cupola Perlan monument on hill in Reykjav�k 7. Mid shot of residential area, people walking 8. Wide of Ministry of Finance 9. Wide of Steingrimur J.Sigfusson, leader of the Left Greens and Finance Minister of Iceland in his office 10. SOUNDBITE: (English) Steingrimur J. Sigfusson, leader of the Left Greens and Finance Minister of Iceland: "It''s very important to emphasise that Iceland is not, despite of the president''s decision going to run away from any lawful, rightful, international obligations. The government is as determined as ever to solve problems with neighbouring countries and build up confidence in Iceland and move forward with the economical reform." 11. Wide of a University of Iceland building 12. Gunnar Helgi Kristinsson, Professor of Political Science, University of Iceland in his office sitting by the computer 13. Close up of his hands typing, tilt up to face 14. SOUNDBITE: (English) Gunnar Helgi Kristinsson, Professor of Political Science, University of Iceland: "The government has two options at the moment, one is to withdraw the legislation or have the majority of parliament withdraw the legislation and the other would be to go ahead with the referendum as the constitution prescribes. I think it''s obvious from the comments made by the leaders of the government that it''s going ahead with the referendum which is of course what the constitution says it should do and would be the natural interpretation of the text of the constitution." 15. Wide of the Icelandic Parliament 16. Close up of the Parliament''s entrance 17. SOUNDBITE: (English) Sigmundur Davio Gunnlaugsson, leader of the Progressive Party (opposition): "Well, the government is in a difficult position because some of the ministers have put their own careers on the line in this instance. So even if we''ve discovered in the meantime that there are certain faults with this agreement, for example an interest rate of 5.6 percent, they''re in a difficult position as regards rectifying that. But the opposition would like to help the government in seeking an agreement which everyone can live with, both the British, the Dutch and the entire Icelandic community." 18. Wide of the Icelandic parliament 19. Wide of pedestrians 20. Residential area in the centre of Reykjav�k, by the frozen pond STORYLINE Britain warned Iceland on Wednesday that it could be blocked from joining the European Union after the tiny North Atlantic nation''s president voted against the repayment of 5.7 (b) billion US dollars worth of loans to Britain and the Netherlands. Icelandic President Olafur R. Grimsson''s decision on Tuesday not to sign into law a bill on the loans caught many by surprise and threatens to damage Iceland''s international standing as it attempts to recover from financial collapse. International credit ratings agency Fitch slashed Iceland''s credit rating to junk status, while Standard and Poor''s said it may cut the country''s currency ratings if political uncertainty and external liquidity pressures continue. Grimsson said on Tuesday the matter would be decided in a referendum among Iceland''s voters, where opposition is so strong to the bill that many fear a "no" vote that would overturn the bill''s narrow passage through parliament last month. A draft bill on the referendum, to be put before the Icelandic Parliament on Friday, gives February 20 as the tentative date for the poll. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/199783d7183a13a972215f0aa3176e6e Find out more about AP Archive: http://www.aparchive.com/HowWeWork

• published: 23 Jul 2015
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