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Economy
Iceland voters reject plan to repay bank debt
2011-04-12
Voters in Iceland issued a resounding "no" in a referendum on whether to approve a renegotiated deal to compensate Britain and the Netherlands over the 2008 collapse of Icesave Bank, leaving the issue to be settled in court.
Voters took the reasoned position that if British and Dutch banks were stupid enough to invest in Icelandic banks that then collapsed, it's their own tough luck, and certainly nothing for which the voters will want to impoverish their children.
Posted by:Fred

#5  ...not soon enough.

And left unsaid is the driving factor for all those Euro banks investing their money outside of Europe and into more speculative markets to begin with. The socialist redistribution policies and heavy regulatory bureaucracies makes turning a profit less attractive than investing in foreign markets. Clean your own house first. You gamble, you lose, it's your problem.
Posted by: Procopius2k   2011-04-12 08:47  

#4  The Irish figured it out also. Now when will the Americans catch on?
Posted by: Nimble Spemble   2011-04-12 08:34  

#3  Iceland should only reimburse those who had their accounts denominated in ISK.
Posted by: Bright Pebbles   2011-04-12 06:08  

#2  Fred, the British and Dutch governments reimbursed depositors in this bank and now want their money back.

Otherwise I agree with you. If the B+D govs took this decision, then the cost should fall to them and not Icelandic tax payers.

Icesave was a private bank. Otherwise this is a swamp of EU and pre-Eu legislation.
Posted by: phil_b   2011-04-12 01:32  

#1  ANIMALS-DON'T-SAY-CANADIAN-"EH!"-IN-ICELAND

versies

* WORLD NEWS > WHITE HOUSE WARNS OF "DEBT ARMAGEDDON", unless US Congress-critters vote to raise the US Debt Ceiling from US$14.29Triyuhn by 05/16th next month.

* TOPIX > ANALYSTS: US DEBT CEILING CRISIS TO ENEMIES ADVANTAGE.

POTUS-BAMMER-VS-GOP-VS-DEM IMPASSE > "NO $$$ = NO HONEY" FOR US GLOBAL ANTI-TERROR MILPOL OPS + SUPPORT ACTIVITIES.

No $$$ to pay, rotate Troops [again?], MilWares, etc. i.e. BRING THEM HOME TO PROTECT AGZ 03/11 "SENDAI"-STYLE HIGH MAG EARTHQUAKES, ANDOR MASSIVE GROUND INVASION BY THE NORTH KOREANS [Red Dawn II = remake].

[WW2 US Army Gen. GEORGE "KEEP THE TANKS ROLLING UNTIL THEY RUN OUT OF GAS" PATTON, Troops run out of Bullets + Beans, here].
Posted by: JosephMendiola   2011-04-12 00:35  

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