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Viridana -> RE: the Vikings are revolting (1/5/2010 3:17:40 PM)
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quote:
ORIGINAL: LadyEllen
The Icelandic president has vetoed the government plan to recompense the British and Dutch governments in relation to the bail out of savers in failed Icelandic banks, saying that it is for the people to decide!
Whoever heard of such ideas? The people having a say over what their country does? This is heresy, made worse only by the blasphemy involved in refusing to pay up when these are ultimately bank losses!
http://online.wsj.com/article/SB126269125264416275.html?mod=WSJ_hpp_MIDDLETopStories
E
It isn't so much that we're refusing to pay up. There was already a law passed last August that says that we do aknowledge the debts and that we have to pay them. However those laws from last August had a few notices, like that if we cannot pay for whatever reason the brits can't seize national treasures or resourses as payment. There were a couple of other notices as well, all put in place to protect the country in worst case scenario.
However the brits and the dutch didn't like those laws so they forced the icelandic government to get rid of the majority of those notices of the previous law. So now basically the country is bare and vulnerable to both britain and holland. The interest rate is so high that there is no way a country of 300.000 inhabitants can pay up.
So the veto isn't about us not paying at all, because the previous law is still there, and we will pay, but it is a matter of having the terms fair and doable. It's also about us being able to have notices for our protection in case the economic crisis doesn't subside.
I think it is also important to veto the law because if the president had signed it there would be a precedent for other countries of basically saying that private bankers can do whatever the hell they want, anywhere in the world, their home country is always gonna pay the bill.
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