From Iceland With Love

I know sounds like a good James Bond movie, but sadly it is not……I have said in the past that I love Iceland they have no problem with gays, they elect competent women in politics, crime is almost non-existent and it is a gorgeous place……..

I am sure if you have half a brain you will know that the EU is in turmoil….Greece, Spain, Italy, Portugal and the EU is struggling to find a way to save the institution without loosing any of the member states…..and that boils down to bailouts…..bailouts to the tune of 100’s of billions of dollars….this is where the post turns to Iceland…….

Iceland is free.  And it will remain so, so long as her people wish to remain autonomous of the foreign domination of her would-be masters — in this case, international bankers.

On April 9, the fiercely independent people of island-nation defeated a referendum that would have bailed out the UK and the Netherlands who had covered the deposits of British and Dutch investors who had lost funds in Icesave bank in 2008.

At the time of the bank’s failure, Iceland refused to cover the losses.  But the UK and Netherlands nonetheless have demanded that Iceland repay them for the “loan” as a condition for admission into the European Union.

In response, the Icelandic people have told Europe to go pound sand. The final vote was 103,207 to 69,462, or 58.9 percent to 39.7 percent.   “Taxpayers should not be responsible for paying the debts of a private institution,” said Sigriur Andersen, a spokeswoman for the Advice group that opposed the bailout.

A similar referendum in 2009 on the issue, although with harsher terms, found 93.2 percent of the Icelandic electorate rejecting a proposal to guarantee the deposits of foreign investors who had funds in the Icelandic bank. The referendum was invoked when President Olafur Ragnur Grimmson vetoed legislation the Althingi, Iceland’s parliament, had passed to pay back the British and Dutch.

Under the terms of the agreement, Iceland would have had to pay £2.35 billion to the UK, and €1.32 billion to the Netherlands by 2046 at a 3 percent interest rate.  Its rejection for the second time by Iceland is a testament to its people, who feel they should bear no responsibility for the losses of foreigners endured in the financial crisis.

Read more at…

Now think about that for a moment……(pause here for reflection……)Iceland has told the EU…”Bite Me”!

What a Unique concept!  The people telling politicians what to do….maybe there is a future for that……and we could call it….oh, I don’t know……..maybe something clever like…….DEMOCRACY!


4 thoughts on “From Iceland With Love

  1. I look forward to the day the European Union totally dissolves and the people of each independent nation can decide for themselves their own destiny, without fear of reprisal from the dreaded EU.

    1. Morning Terrance, at the current rate of discontent I gave the Eu 5 years and it will be gone…..But do not discount the wealth robbers, it is the best thing that has happened in a long while and there will be some resistance to dissolving the Union…..

  2. “The people telling politicians what to do”

    I think this is more accurately a case of people telling politicians to tell their corporate puppet masters what to do. Good for them. There of course may be negative consequences that will impact credit in Iceland but to what harmful extent remains to be seen.

    1. Larry, there will be push back by the EU and they may well be crapped yet…..but they stood up and spoke and they should be commended for that….if nothing else…

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