Tue 2010-10-12 16:13 EDT
Iceland Rejects Icesave Depositors Bill in Referendum - BusinessWeek [2010-03-07]
Icelanders rejected by a massive majority a bill that would saddle each citizen with $16,400 of debt in protest at U.K. and Dutch demands that they cover losses triggered by the failure of a private bank...Voters rejected the bill because ``ordinary people, farmers and fishermen, taxpayers, doctors, nurses, teachers, are being asked to shoulder through their taxes a burden that was created by irresponsible greedy bankers,'' said President Olafur R. Grimsson, whose rejection of the bill resulted in the plebiscite...Icelanders used the referendum to express their outrage at being asked to take on the obligations of bankers who allowed the island's financial system to create a debt burden more than 10 times the size of the economy...
2010 03 07; BusinessWeek; Iceland Rejects Icesave Depositors Bill; referendum.