Britain sues Iceland for £3.5billion for refusing to pay back bailout cash

London Metro
April 11, 2011

Iceland is to be sued by Britain and the Netherlands to recover £3.5billion lost when its banking system collapsed.

But the legal action will take at least 18 months to resolve, the British government has been warned.

The move follows a referendum in Iceland that rejected repaying money lost by the IceSave bank when it went bust in October 2008.

The British and Dutch governments had to reimburse 400,000 citizens when they lost their deposits.

‘It’s obviously disappointing, it seems the people of Iceland have rejected what was a negotiated settlement,’ said chief secretary to the Treasury, Danny Alexander.

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Iceland Rejects Bankster Shakedown

Kurt Nimmo
Infowars.com
April 11, 2011

Unlike Americans, the people of Iceland were allowed to vote on bailing out the banksters. They voted overwhelmingly against the proposal on Saturday despite the intimidation tactics of the globalist loan sharking operation, the International Monetary Fund.

For a second time, Icelanders rejected a scheme to “repay” – as Reuters deemed it – $5 billion to banks in Britain and the Netherlands following the engineered looting and crash of the Kaupthing, Landsbanki and Glitnir banks. The crash all but destroyed Iceland’s economy and swindled thousands of European bank customers.

60 percent of voters opposed the shakedown while 40 percent said the country should give in to bankster intimidation.

Iceland did something unthinkable in the United States – it went after the banksters and their minions. In early March,*Sigurdur Einarsson, former chairman of the defunct Icelandic bank Kaupthing, was arrested in London. The the Special Prosecutor’s Office in Reykjavik ordered the police to raid the homes of other bank principals. Ivar Gundjonson of Iceland’s failed Landsbanki bank was also arrested.

Predictably, the corporate media has under-reported Iceland’s efforts to arrest and prosecute bankers.

Following the outcome of Saturday’s referendum, Iceland Prime Minister*Johanna Sigurdardottir warned that the banksters will declare war on the tiny island nation. “We must do all we can to prevent political and economic chaos as a result of this outcome,” she said.

The court of the EFTA Surveillance Authority, the European trade racket overseeing Iceland’s cooperation with the globalist European Union, will now take up the issue. “My estimate is that the process will take a year, a year and a half at least, Finance Minister Steingrimur Sigfusson told a news conference.

“Ever since Iceland decided to stop pandering to banker interests, and transfer its country’s wealth to banks from Europe and Holland, its economy has in fact been on a constant upward trajectory,”*Zero Hedge wrote on Sunday. The website provides two charts to show how telling the bankers to stuff it has benefited the country.

“And so a nation of 320,000 once again takes the baton of bankster liberation, while a country of 320 million continues to refuse to care, even as with each passing month another $150 billion in debt is added to the public debt total.”


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