Iceland: Tell Them No

Iceland voters get another chance to tell the bankers to pound sand.

Iceland's Voters Get Final Say on Repaying British, Dutch Depositor Debt

Iceland’s President Olafur R. Grimsson will give his country’s voters the final say on repaying about $5 billion in debts owed to the U.K. and the Netherlands to cover depositor claims.  

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Yesterday’s announcement marks the second time Grimsson has rejected an agreement designed to compensate the U.K. and Netherlands for depositor losses stemming from the October 2008 failure of Landsbanki Islands hf. His Jan. 5, 2010, refusal to sign a prior accord prompted Fitch Ratings to cut Iceland’s credit grade to junk. Moody’s Investors Service and Standard & Poor’s give Iceland’s debt the lowest investment grade.

There was a period of economic dislocation with some pain.  Since then, Iceland's economy is recovering and a burden of banker debt is not hung around the people's necks.
Ireland could take a similar route and free their people from debt slavery by the banks.  Will the Irish people stand up like the Icelandic people?