In November, media reports indicated that the European Union and EU member states were putting pressure on Icelandic authorities to reach an agreement with Britain and the Netherlands over the Icesave dispute, and this would be a prerequisite to activation of the bailout loans Iceland had applied for, from International Monetary Fund (IMF) and other EU member countries. On 16 November 2008, a small positive step was made in the dispute, when Iceland made a press statement where they announced now to have agreed with the European Union to work actively towards negotiating a mutual agreement with United Kingdom and Netherlands, on the terms for repayment of the Icelandic minimum deposit guarantees. After this outline agreement had been made about the contours for a future agreement, the former Foreign Minister Valgerður Sverrisdóttir from the opposition Progressive Party, criticized the ruling Independence Party by stating: "I think reaching an agreement was the only way to go...shall be criticized for believing that they can get away with corresponding with other nations in such a way they did", while she added that Britain's behaviour could also not be excused.