The hottest issue in Iceland right now is Icesave and the bill that president Ólafur Ragnar Grímsson turned over to the people.
A lot of misconception has been floating around in the press lately, so here are a few points to consider:
- A tiny group of icelandic bankers caused a lot of trouble.
- The law could jeopardize ownership of national resources and therefor our indepenance.
- Landsbanki was privately owned and operated. Same goes for the depositors insurance fund.
- The “dept” of 3.9 billion Euro is staggering considering the population. 10.000 Eoru pr living person.
- Both the Dutch and the British Government have refused to take the matter to court.
- The interest rate is higher than the Versala aggreement (after WWI).
- President Ólafur Ragnar Grímsson did not veto the low, only forwarding it for the people to decide.
- The banks operated under European regulations. The regulations are now considered faulty.
Listen to the interview on BBC’s Newsnight:
Iceland has the right to refuse debt servitude
We’re all Icelanders now
Iceland bank collapse repayment in doubt – listen to prime minister Steingrímur J. Sigfússon