Icelandic President Olafur Grimsson has called for a referendum to decide if the country should repay savers in the UK and the Netherlands who lost out when Icelandic bank accounts collapsed. (Quite right too, this is how government for the people, by the people, is supposed to work)
A bill, dubbed ‘Icesave’ after the failed private investment firm in question, was due to be signed on Tuesday and would have seen the Icelandic taxpayer reimbursing five billion dollars to luckless investors. (Luckless - the clue is in this expression, they gambled. They were perfectly happy to take a risk but are now whining like hell about it because their risk was - risky!? Why should the casino - called Iceland, pay 'em now they've lost?)
But because the bill was vetoed at the last minute, the decision will be in the hands of Iceland’s voters for a referendum decision.
It is only the second time in the Icelandic republic’s 65-year history that the president has vetoed a bill at the last minute.
The move to block the bill came after 60,000 Icelanders – a quarter of the country’s voters - signed a petition calling for the Icesave bill to be blocked. (Well done, good job!)
EU membership in jeopardy (wish Britain's was!)
Icelandic critics say Britain and the Netherlands (banking crooks)are using their EU(crooks') veto and IMF (crooks') voting power to bully the country's taxpayers into reimbursing savers who imprudently poured money into Icesave, a private firm that offered high interest rates. (YES!)
Prime Minister Johanna Sigurdardottir (traitor) said the government was committed to honouring its debts. (Why? Bogus debts to crooks don't count!) She questioned whether the president had the right to force a referendum on such matters but did not suggest the government would try to avoid one.
"It is debatable whether it is politically and constitutionally correct for the president to use his right to submit the issue to a national referendum when it concerns an international issue such as Icesave where the government seeks to honour its international commitments," she said. Ms Sigurdardottir’s government had threatened to resign if the bill was not passed, throwing the country into yet more uncertainty as preparations are made for a referendum to take place.
Reactions from the UK and the Netherlands
The Dutch government said it was "very disappointed" and would demand an immediate explanation. (Shut up reptiles)
British Finance Minister Alistair Darling called on Iceland to honour its debts, especially in light of the country’s aspirations to become a full member of the European Union. Since the financial crisis - which hit the small island nation harder than most - EU membership has been high on Iceland’s priorities. (Well obviously not all the people's!)
"An agreement has been reached with us and the Dutch government and I really think it should be implemented because otherwise I think it will just make things far more difficult than they need be," Darling said. (Who's scared of you, eyebrows?)
www.france24.com/en/20100107-icelands-president-defends-icesave-veto
www.youtube.com/watch?v=e2VuElk5_Bg
