**Iceland’s parliament will meet on Friday to plan a referendum on the controversial Icesave bill.**The Icelandic government and opposition parties will draft legislation to allow the referendum to go ahead.
The Icesave bill is up for public vote following the Icelandic president’s refusal to approve it.
There has been significant public opposition to the legislation, which commits Iceland to repaying $5bn (£3.1bn) to the UK and the Netherlands.
Opponents believe the payment terms are too onerous and will hurt Iceland’s economic recovery.
Government ministers met with opposition parties following the president’s announcement on Tuesday to discuss how to progress.
It is hoped that new laws governing the referendum can be drafted in one day, allowing the vote to go ahead as soon as possible.