The Icelanders stand firm

The Icelanders have voted in mass, in 93 %, against the agreement to which his Government came with the United Kingdom and Holland to return the money lost by the citizens of these countries in the bankruptcy of the financial system of Iceland. 93 % can look like a high percentage. The rare thing is that it was not 100 %. Since the consultation was summoned, the Government had resumed the negotiations with London and Copenhagen to improve the payment conditions and obtained a beginning of agreement.

And what has said the British Chancellor of the Exchequer, Alistair Darling, hours after the foreseeable result was known?

Speaking on the BBC's Politics Show, Darling said: "You could not just go to to small country music like Iceland with to population the size of Wolverhampton and say: ' Look, repay all that money immediately'. "So wéve tried to be reasonable, the fundamental point for us is that we get our money back, but on the terms and conditions wére prewall to be flexible."

Wanted Darling, this was what they did and even went so far as to apply antiterrorist norms to block the assets, not many, of the Icelandic bank involved in the disaster. In Wolverhampton, there are no many terrorists, but I suppose that in Iceland neither.

It is necessary to remember two things. The British Government (as the Dutch) returned to citizens, companies and institutions the money that they had deposited in the bank, in whole nearly 3.500 million pounds sterling. In the easy epoch, even some town halls had seen attracted for suspiciously good conditions that were offering them.

Then, London demanded to Iceland the return of the money, started of the Government a quite onerous agreement that was approved in the Parliament, and only the unexpected denial of the president to certify it with his signature prevented from being ratified and forced to the call of the referendum.

London threatened Iceland to turn it into an international pariah. Thanks to the Icelandic president and his citizens, now the smokes have bent. Perhaps have to pay, but as now Darling says "in many, many years". To have started round there.
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Most of the German newspapers give them the account. Die Tageszeitung:

"(Iceland's voters made) to wise decision. Otherwise, they would have destroyed their country music. It's bad enough that, two years ago, London and The Hague made up for the losses of their citizens who had invested in the collapsed Icesave bank. Why should to country music compensate investors who voluntarily putt to yourself their money at risk in the hopes of making exorbitant profits? Those who hand their money over to shady speculators do so at their own risk. Demanding the lost money from every single Icelander goes against the logic of market capitalism."

The logic of the modern capitalism only establishes the collective responsibility in case of losses. If you aim that it might be applied also with the benefits, probably apply the antiterrorist law to you, although you belong to Wolverhampton.