93% Of Icelanders Reject "Icesave" Bill In Historic Referendum
I don't know if anyone else is following this, but basically every person in Iceland was being required to "pay around $135 a month for eight years -- the equivalent of a quarter of an average four-member family's salary."
These payments would be due to banks in England and the Netherlands to cover losses incurred by "the unfair result of their own government's failure to curtail the excessive spending of a handful of bank executives that led the country into its current malaise."
Here's a related link from ZeroHedge that discusses some of the ramifications.
The biggest question to ponder is that we could be asked to do the same thing Iceland is being asked to do by China & Japan, which would get very ugly, very quick.
JTS
I don't know if anyone else is following this, but basically every person in Iceland was being required to "pay around $135 a month for eight years -- the equivalent of a quarter of an average four-member family's salary."
These payments would be due to banks in England and the Netherlands to cover losses incurred by "the unfair result of their own government's failure to curtail the excessive spending of a handful of bank executives that led the country into its current malaise."
Here's a related link from ZeroHedge that discusses some of the ramifications.
The biggest question to ponder is that we could be asked to do the same thing Iceland is being asked to do by China & Japan, which would get very ugly, very quick.
JTS
