Almost a quarter of voters in Iceland have signed a petition against plans to repay money lost by foreigners when an Icelandic online bank collapsed. The petition urges the president to veto the bill that allows the move, and calls for a referendum on the issue. Iceland's parliament has approved the plans to reimburse 3.8bn euros (£3.4bn) lost by Dutch and British savers when the Icesave scheme failed in 2008. Many taxpayers say they are being made to pay for the bank's mistakes. The compensation amounts to some 12,000 euros for each citizen on the island nation of 320,000.
The petition urges the president to veto the bill that allows the move, and calls for a referendum on the issue.
Iceland's parliament has approved the plans to reimburse 3.8bn euros (£3.4bn) lost by Dutch and British savers when the Icesave scheme failed in 2008.
Many taxpayers say they are being made to pay for the bank's mistakes.
The compensation amounts to some 12,000 euros for each citizen on the island nation of 320,000.
So Iceland's government is trying to sell its people into slavery by giving in to bullying to accept debts they have no moral obligation for. Its no wonder that the people object. They've toppled one government over the financial crisis; will another one be following shortly?
In a dramatic development last night, president Olafur Ragnar Grimsson said that legislation passed by the Icelandic parliament late on Wednesday was controversial and he would need time before signing it into law. "I have noted that a large number of people have signed a petition against the law and I have also listened to remarks made by a number of legislators during the debate," he said after meeting government ministers. His intervention could reignite a diplomatic row between the UK and Iceland which has dragged on for 18 months. If he withholds his signature, the legislation would go to an unprecedented referendum, where it would face strong opposition. Presidential approval has only been withheld once before since Iceland gained independence in 1944.
"I have noted that a large number of people have signed a petition against the law and I have also listened to remarks made by a number of legislators during the debate," he said after meeting government ministers.
His intervention could reignite a diplomatic row between the UK and Iceland which has dragged on for 18 months. If he withholds his signature, the legislation would go to an unprecedented referendum, where it would face strong opposition.
Presidential approval has only been withheld once before since Iceland gained independence in 1944.
