Time will tell but maybe Olafur Ragnar Grimsson’s decision to stir things up in the IceSave matter will lead to a better deal for Iceland, and as a lesson to the world community that the global financial system has some extremely large holes which need to be addressed. One thing is certain, if IceSave was [...]

Trying to educate myself enough about IceSave to be able to responsibly vote in a national referendum I find myself having 22 open tabs with different articles, pdf’s and documents. I haven’t even begun to make my on-line news-round today. I trust that everybody else who is going to vote is doing the same amount of research. [...]

Word is that new legislative body Olafur Ragnar Grimsson is acting quickly to ban all traces of DiHydrogen Monoxide from Iceland. (Sorry could not resist )

Has IceSave turned from an international dilemma into a domestic politics powder-keg? Icelanders are furious that their government is willing to pay the IceSave debt, but meanwhile allowing the culprits who caused the mess to go scotch free and even negotiating tax-breaks for some of their new ventures. The public in Iceland is desperate for [...]

Yesterday I spoke to two grown up, salt of the earth people who had signed the InDefence petition. They were adamant that they had signed against Iceland paying the IceSave debt. Their understanding of the issue was that a national referendum would give the nation an opportunity to say no to paying the debt. What [...]

The President who hasn’t dared face the Icelandic press to explain himself, nevertheless found time for Jeremy Paxman at the BBC last night.

So what is the national referendum going to be about? According to some Facebook statuses and discussions you get the sense that too many people think that the president’s veto means that Iceland has an option on whether to pay the IceSave debt or not. If only things were that simple. The whole affair has [...]

  In the light of all the aforesaid, I have decided, according to Article 26 of the Constitution, to refer this new Act to the people. As stated in the Constitution, the new Act will nevertheless become law and the referendum will take place “as soon as possible.” If the Act is approved in the referendum then naturally [...]

Lets make this clear. Despite the hysteric coverage by the foreign media, the president’s veto does not mean that Iceland is not going to pay its debts in the IceSave affair. It just means that this exact agreement with the Dutch and the British is not agreeable. The foreign press might be as confused as [...]

“Maybe this is our new version of democracy, Facebook democracy?”- Kristjan Gretarsson, on Facebook in a discussion on InDefence style petitions. “I have mixed feelings about this. It has never been the Independence Party’s demand that the government should resign because of this issue, only that it would get a fair treatment. “- Bjarni Benediktsson, [...]