Icelanders overwhelmingly rejected 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, first results show.
Ninety-three percent voted against the so-called Icesave bill [...]
Political leaders have already moved on and are trying to negotiate a new deal with the U.K. and the Dutch, making the bill in today’s vote “obsolete,” Prime Minister Johanna Sigurdardottir said on March 4. [...]
"It's of utmost importance that we don't over-interpret whatever message comes out of this. We want to be perfectly clear that a "no" vote does not mean we are refusing to pay," Finance Minister Steingrimur Sigfusson told reporters. [...]
Mish to conclude: What's highly dangerous is the attitude that the wishes of 93% of the people is irrelevant.
Previous related posts:
- 2010-02-26 Iceland Walks Out of Icesave Talks
- 2010-01-06 Icelandics won't be forced to bailout the UK and NL