Iceland, a country that wants to punish the bankers responsible for the crisis

why oh why cant Americans be like Icelanders ?



Since 2008 the vast majority of the Western population dream about saying "no" to the banks, but no one has dared to do so. No one except the Icelanders, who have carried out a peaceful revolution that has managed not only to overthrow a government and draft a new constitution, but also seeks to jail those responsible for the country's economic debacle.

Pressenza Reikjavik, 3/28/11

Last week 9 people were arrested in London and Reykjavik for their possible responsibility for Iceland’s financial collapse in 2008, a deep crisis which developed into an unprecedented public reaction that is changing the country's direction.

Pressure from Icelandic citizens’ has managed not only to bring down a government, but also begin the drafting of a new constitution (in process) and is seeking to put in jail those bankers responsible for the financial crisis in the country.



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The move sparked anger again in the Icelanders, who returned to the streets demanding that, at least, that decision was put to a referendum. Another big small victory for the street protests: in March 2010 that vote was held and an overwhelming 93% of the population refused to repay the debt, at least with those conditions.

Returning to the tense situation in 2010, while the Icelanders were refusing to pay a debt incurred by financial sharks without consultation, the coalition government had launched an investigation to determine legal responsibilities for the fatal economic crisis and had already arrested several bankers and top executives closely linked to high risk operations.

Interpol, meanwhile, had issued an international arrest warrant against Sigurdur Einarsson, former president of one of the banks. This situation led scared bankers and executives to leave the country en masse.


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[link to www.pressenza.com]