President Of Iceland Attacked for British Stupidity

I love how the President of Iceland is attacked on the BBC for being undemocratic for forcing a public referendum before passing a law (the ultimate form of democracy).

The BBC media seem to be pretty pissed off at Iceland. Here's another video where the President of Iceland is being attacked:

http://www.youtube.com/watch?v=rOyAyw1aOww

I wonder, should the people of Iceland vote against the bill, will the British invade Iceland? Will they be labeled a nation harboring terrorists? Will sanctions be laid? How pissed off will the Dutch and English get?

For a little background, a private on-line bank, Icesave, went bankrupt at the height of the economic crisis. Dutch and English depositors were hardest hit. Their respective governments covered the losses of these depositors, which totaled over $5 billion.

Currently, legislation is being pushed through the Icelandic government to set stringent terms forcing the taxpayers of Iceland to payback the losses. The president, in a move that has seemed to pissed off everyone accept the citizens of Iceland, is forcing a referendum on the bill and this has gotten English and Dutch panties in a naught; probably because they know it won't pass.

In no way is Iceland's government, and the taxpayers of Iceland, responsible for the losses of a private bank. If the English and Dutch governments want to insure the deposits of a foreign bank, its their problem.

Update: This little commentary is simply to give credit where credit is due. It is in no way an endorsement of President Grimsson.