Monday, April 11, 2011

Iceland sets up example: citizens must not pay banks' debts

Icelanders have rejected again in referendum the colonialist blackmail by the UK and the Netherlands to make the citizens of the Nordic island to pay the debts of a private bank with public money.

The attitude of the Icelander People is just common sense: who dares to even conceive that the public should pay for the failures of privately owned companies?!

Still the imperialist governments of London and Amsterdam are trying to make Iceland, the citizens, get indebted for 30 or 40 years (at least) in order to pay these private liabilities. They threaten to bring the issue to the EFTA Court (Iceland, Norway and Switzerland are members of EFTA, nowadays a satellite of EU) in the hope of being able to force by means of international arbitration this abuse.

I understand that Iceland (and any other country pushed to a similar situation, like Ireland) should stand firm and never ever accept the absurd and abusive idea that the liabilities of private business must be assumed by the public in any way.

Update: Michael Hudson agreed with me (three days ago).

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