And they should anyone in Iceland care, precisely? So that they can yoke their currency to the collapsing Euro? Iceland stands as the canary in the coal mine of the new world order and if they don’t want to play ball with the regional system, well, they’re to be commended for their foresight. Go fish. As covered here, Icelanders were given the shaft by a group of international criminals that ran the Landsbanki ponzi scheme and proceeded to scurry off to London where they reportedly maintain operations. Objectively, the obligations owed by the Icelandic people to Europe on these grounds equal zero dollars. If your credit card gets stolen, should you be on the hook for he charges? There’s a term for this – fraud. European jurisdictions may want to question the Russian, ermn, ‘businessmen’, involved about where their money went instead.
Related: Iceland Unanimously Approves ‘Wikileaks Bill’ To Establish Free Speech Press Haven | Frustrated Icelanders vent rage by voting no in referendum | Icelanders to vote no on debt deal | Iceland stares into Icesave abyss | EU executive recommends fast-track membership for Iceland | No solution in dispute over Iceland deposits | Iceland sets date for Icesave vote | Iceland says IMF aid likely delayed | Iceland blocks central bank debt repayment deal | Icelandic parliament rolls over, votes for EU membership | Iceland to be fast-tracked into the EU | Iceland’s government collapses | In Iceland, the heat is on | Police fire pepper spray at Iceland protesters | Icelanders storm central bank in protest | Iceland inflation soars to 17.1% | 5 injured during protest in Iceland over economic meltdown
June 17, 2010
Iceland put on fast-track to join the EU but acrimony lingers over Ãƒâ€šÃ‚Â£2.3bn owed from Icesave collapse
Iceland was put on a fast track to join the European Union today, but the Cameron government served notice that it could block the country’s membership unless it settled the Ãƒâ€šÃ‚Â£2.3bn Britain says it is owed as a result of the country’s financial collapse two years ago.
European government chiefs at a Brussels summit decided that “accession negotiations should be opened” with Iceland. At British and Dutch insistence, however, the summit said that Iceland would have to address “existing obligations such as those identified by the European free trade area surveillance authority”, a reference to the fallout from the collapse of Icesave in 2008 that left 400,000 depositors in Britain and the Netherlands fearing for their savings.
The Icesave dispute generated acrimonious negotiations, with the terms for reimbursing the British and Dutch rejected first by Iceland’s president and then by the Icelandic public in a referendum.
Earlier this week, William Hague, the foreign secretary, made it plain that Britain could veto membership unless the dispute was settled. “Iceland will have to recognise its obligations,” he said. “We won’t block [opening negotiations], but we will want it clear at the start that Iceland meets its financial and legal obligations.”