He has to approve the IceSave bill.
It is easy to justify it. Vigdis Finnbogadottir made a tough decision seventeen years ago when she went against her own conviction and her own political interest and approved the EES agreement. She justified it by saying that she had made the decision for future generations, not herself.
Olafur Ragnar only has to put aside his own political interests for the interests of the nation and approve the bill.
Even if hundreds of people who don’t want to take responsibility for what happened in Iceland in the last few years have camped outside his door this morning.
Even if more than 50.000 people, including children under the legal age have signed a petition asking him not to.
Because if he doesn’t then the consequences will only be beneficial to himself.
He will appease a lot of his critics. But leave the only semi-functional government available hanging, causing an almighty storm in Icelandic politics and delaying the assistance of foreign nations.
He has got to approve the bill. If he doesn’t, Iceland will be dragged even further down the drain. Which has been the objective of the Independence Party and Progressive Party since they found themselves in opposition.
Nobody wants to pay Iceland. But nobody wants to pay higher taxes either, and nobody wants less government service or worse education, or worse health care, or more expensive necessities or ridiculously expensive foreign trade.
But that is what those two parties have left us with, and the rebuilding cannot be delayed until it is convenient for their own political gain.
Hopefully the man in Bessastadir understands that.
Related posts:
Blubber
2 years ago
He shouldn’t sign and the matter should be left to a referendum.
Because the people of Iceland need to take responsibility for their actions. Let them vote “against” IceSave, let them see what happens.
People will never get it otherwise. They will think that there could have been an ideal world where they could eat the cake and have it too.
Have the emergency law protect their assets in the Icelandic banks, but not the assets of foreigners.
The icing on top was when Margret Tryggva of The Movement said that Iceland was justified in not paying IceSave because Iceland is small and Holland and The UK are big colonial powers. WTF?
Last time I checked Iceland got their oil, coffee and clothes from those very “colonies”.
If the criminal short and scrawny he is less culpable?
Or does she mean that we are too naive to play with the big kids? Incapable of governing ourselves and deal with the consequences?
Banking for dummies?
Dadi
2 years ago
Blubber, I aired that very opinion at a Christmas party. It sparked a politically partizan rage-fest.
Let’s just say that the likely consequences of not signing would make for a good disaster movie.
Boggi
2 years ago
@Dadi
You said:
“Let’s just say that the likely consequences of not signing would make for a good disaster movie.”
Are you acctually afraid of that? You can´t really live without, Next, Debenhams, Zara?
Because we will loose all that anyways, the difference on signing and not signing is only time, still Iceland will have to defoult.
I’m not for not signing or signing Icesave, acctually I belive that He has allready sign it,(even before Alðingi passed it) but the fact of the matter is that Icesave is the least of our problems, but thinking or beliveing that signing it will fix something is just naive. Accepting will not make anithing better or not accepting it will not anyting worse, it is just a matter of time, but the outcome is exactly the same.
Blubber
2 years ago
@Dadi
Agree that not signing would make for good disaster movie, but people might need that. Although they will still blame the EU, UK, Holland, the US, random foreigners, Lex Luthor, The Joker & Gordon Brown.
Just out of curiosity, which was it that prompted the rage fest at the Christmas party: the suggestion that Iceland not agree to pay IceSave and see how great that will be, or that Iceland is incapable doing business according to internationally agreed standards?
Dadi
2 years ago
Boggi / Blubber… if he doesn’t sign it is not a matter of Iceland not having to pay like so many people think. It just means that they have to go back for another round of negotiations. And it in turn would delay the possibilities of rebuilding.
Blubber, I suggested that Althingi should try not approving the IceSave bill and then face the consequences. The partisans were indignant of course.
Blubber
2 years ago
@ Boggi:
Not that I claim to know what Dadi thinks, but I suspect he is not referring to the disaster of Debenhams leaving.
The choices are between a)total disaster with no line of credit and a label of being untrustworthy thieves or b)total disaster with a slim chance of credit and a semblance of not being thieving jerks.
Blubber
2 years ago
@Dadi
Right. But how many of the people who have signed “indefence” know that?
admin
2 years ago
@Blubber
You are right but another question could be. How many of the people who signed “indefence” know that they have?
I also suspect that some of the same people who have been so vocally indignant about the people who took out loans on their children might have signed up their own children on the list.
Boggi
2 years ago
Like I tolld you before, this is just a matter of time, it is about ripping off the band aid or pulling it off lttle by little, thats THE ONLY difference, the only “line line of credit” you will see is the loan that the IMF has put togather for Iceland, and IMF loans have never been used to rebuilt a country, they are used to repay it´s friends the forign creditor, the only forign investment that you will see, is the Icelandic goberment handing over to forigners icelandic resources and companies and useing the media with headlines like this: “forigners willing to invest in x..x company” in other words if we sign, forign creditors will be willing to take our resources and companies as PART payment.
Now, like I have said before, I’m not for not signing or signing it, because I am almost 99.99% sure that it HAS BEEN signedand a the UK allready knows, and this is all just a show that Johanna and Stengrimur put togather with the president, remember “Circus for the masses”, but the show should end some time today before midnight I´m also 99.9% sure of that, leaving the 01% in case the UK realy doesn´t know about the “show”, this is not about money anymore its about entering the european union.
One more point, people are NOT signing for not paying, they are signing to reject this deal without the amandments, I been asking and most of people want to pay but they want a fare deal, not this deal.
Dadi
2 years ago
Boggi, what kind of deal would be acceptable?
I think the only deal acceptable to most those who want to reject this one is a deal made by their chosen political party. Interest rates or amendments have much less to do with it but are used to blow smoke in people’s eyes. The same indignant Bjarni Benediktsson who now screams off the top of his lungs about a better deal was wholly prepared to accept a worse one last winter because it was his party which agreed to it. Sigmundur David’s Progressive Party is using IceSave to scare people into their own camp.
Frightened and confused Icelanders who have never had to think about the greater scheme of things are unsure of which foot to stand on.
I have talked to a whole bunch of people who seem to think that a national referendum would revolve around not paying or paying.
I have also talked to some people who think that isolating this country away from international relations is a good idea.
Blubber… I went to Debenhams yesterday.
I have maybe spent 10.000 ISK there since the store opened. I am not a big fan but I remember Iceland before and after we saw the entry of foreign chains into the country and I have to say that I prefer the after. The Iceland before was a backwards country and I prefer people going forward.
Blubber
2 years ago
Note to self: Must not assume Dadi is impervious to Debenhams departure.
;D
(I’m still hoping for the arrival of WalMart & H&M)
Will He Or Won't He? | Drakz News Station
2 years ago
[...] the original here: Will He Or Won't He? Share and [...]
nn
2 years ago
Why do so many assume that by not signing we will be rid of Icesave?
The fact is that the parliament did agree to pay this summer, but with restrictions that the Dutch and British didn’t accept. If we don’t accept these new laws, the old ones will still apply. We will still have to pay for Icesave, but it won’t be “as bad”.
To me the new law is like a total surrender. I can’t accept that.
Since the Dutch and British didn’t accept the old terms, we might have to renegotiate (which is probably a good thing). But we have already agreed to pay, and that won’t go away by saying no to this ugly mess.
There’s a comparison of the old and new here (Icelandic only – PDF):
http://dl.dropbox.com/u/3133573/frettatilkynning_indefence_samanburdur_a_fyrirvorum_og_vidaukasamningi2nov2009.pdf
Dadi
2 years ago
nn…I thought it was necessary to conclude any negotiation that both parties agree to a solution.
that was missing from the first agreement. the UK and Netherlands did not agree to it.
nn
2 years ago
I know. Hence the words: “Since the Dutch and British didn’t accept the old terms [...]“.
I don’t agree to this agreement, as I see it as total surrender. If we can’t possibly do worse, why not try to get something better?
Inger Le Gué
2 years ago
Meanwhile in the rest of Europe:
http://www.businessweek.com/globalbiz/content/dec2009/gb2009128_445076.htm
For the Icelandic population stepping over to the EU and the euro might just be like stepping over to another sinking ship.