According to British and Argentine sources, the essence of the final offers that were spurned by each side was as follows:
The British offer: Argentine forces leave the Falklands within 14 days. British ships then would withdraw 150 nautical miles, and would pull back 300 miles when Argentine troops leave southern mainland bases. The United Nations would appoint an administrator who would rule through the islands' own legislative and executive councils. One additional representative would be appointed to each council to speak for the 20 or 30 Argentines who live on the islands. Talks would be held on the future of the islands, but the long-term future of the islands in no way is to be prejudged before these talks were completed. Argentina would not be permitted to flood the islands with its own settlers. A small UN force would be permitted to keep order and prevent another Argentine invasion. Britain rejects Argentine claims to South Georgia and South Sandwich Islands.
The Argentine offer: Simultaneous withdrawal of forces. Argentine claims to be upheld to South Georgia and South Sandwich. UN rule of the islands during the interim period--with Argentine, UN, and British flags flying--while talks are conducted on the future of the islands. Islanders and Argentines, would serve on an advisory committee. Maintain air and communications links between Argentina and the islands.