Brussels, 10/11/2008 (Agence Europe) - the European Commission is ready to propose macro-financial aid to Iceland, which has been severely hit by the crisis. On Monday, 10 November, the Commission's spokesperson indicated that José Manuel Barroso intended to give the thumbs up to a request made in this sense by the Icelandic prime minister, Geir Haarde. The Commission will therefore propose that the Council, following an opinion from the European Parliament, grant financial aid in the form of a loans package. The spokesperson explained that assistance will be “modest” and, “ought to be seen more as a political gesture”, adding that this support would come as a complement to assistance planned by the International Monetary Fund and efforts made by member states. This macro-financial aid instrument aims to help third countries that are geographically close to the EU and which have important economic and political relations with it. It cannot be, however, activated until an agreement is concluded with Iceland and certain member states on bilateral question involving bank deposit guarantee mechanisms, explained the spokesperson, who also said that the Commission would subsequently be able to open discussions with Reykjavik “very soon”. (A.B./trans/rh)