Good for Iceland

Via the BBC, Icelandic voters have rejected a deal to reimburse Great Britain and the Netherlands for costs associated with the failure of Landsbanki.  As of right now, Iceland seems to be the only country in the world that has decided to put the will of its citizens ahead of the needs of the private bankers that helped
wreck the economy.

Of course, the British and the Dutch will now take the matter to international courts in an attempt to get the money.  I sincerely hope that the courts will rule that foreign creditors don't have the right to hold a sovereign nation and all of its taxpayers hostage in order to make good on the private debts of irresponsible bankers.

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