Post by Jaga on Mar 6, 2010 22:44:09 GMT -7
no wonder, why people have to suffer for bankers?
REYKJAVIK (Reuters) - Icelandic voters vented their fury on Saturday at the bankers and politicians who ruined the economy, overwhelmingly rejecting a $5 billion deal to repay debts to Britain and the Netherlands.
The outcome of the referendum had not been in doubt since Iceland had recently been offered better repayment terms than those contained in the deal on which residents were voting.
Still, the scale of the "No" vote testified to the anger Icelanders feel a year-and-a-half after their island's economic collapse became a symbol of the global financial crisis.
Results from about half of the votes cast showed more than 93 percent opposed the deal and less than 2 percent supported it. The rest of the ballots were blank or invalid.
Iceland now must go back to the negotiating table with the British and Dutch in the hope of striking a new accord swiftly. The longer it takes, the greater Iceland's financial pain.
Foreign Minister Ossur Skarphethinsson told reporters Britain and the Netherlands had indicated they were willing to hold new talks.
Financial aid has been put on hold during the impasse, which is also threatening to undermine the center-left government of Prime Minister Johanna Sigurdardottir.
"This has no impact on the life of the government. We need to keep going and finish the debate. We have to get an agreement," Sigurdardottir told public television.
Iceland desperately needs to solve the so-called "Icesave" impasse so it can get international aid flowing to its economy, which contracted around 7.7 percent last year and is expected to shrink again in 2010.
The International Monetary Fund and Nordic countries have promised to loan Iceland around $4.5 billion to help it kick-start the economy. But after initial payments, much of the cash is frozen pending resolution of the Icesave debt.
Finance Minister Steingrimur Sigfusson said voters had sent a very clear message about their disappointment and anger.
www.portfolio.com/business-news/reuters/2010/03/06/iceland-rejects-icesave-bill-in-referendum
REYKJAVIK (Reuters) - Icelandic voters vented their fury on Saturday at the bankers and politicians who ruined the economy, overwhelmingly rejecting a $5 billion deal to repay debts to Britain and the Netherlands.
The outcome of the referendum had not been in doubt since Iceland had recently been offered better repayment terms than those contained in the deal on which residents were voting.
Still, the scale of the "No" vote testified to the anger Icelanders feel a year-and-a-half after their island's economic collapse became a symbol of the global financial crisis.
Results from about half of the votes cast showed more than 93 percent opposed the deal and less than 2 percent supported it. The rest of the ballots were blank or invalid.
Iceland now must go back to the negotiating table with the British and Dutch in the hope of striking a new accord swiftly. The longer it takes, the greater Iceland's financial pain.
Foreign Minister Ossur Skarphethinsson told reporters Britain and the Netherlands had indicated they were willing to hold new talks.
Financial aid has been put on hold during the impasse, which is also threatening to undermine the center-left government of Prime Minister Johanna Sigurdardottir.
"This has no impact on the life of the government. We need to keep going and finish the debate. We have to get an agreement," Sigurdardottir told public television.
Iceland desperately needs to solve the so-called "Icesave" impasse so it can get international aid flowing to its economy, which contracted around 7.7 percent last year and is expected to shrink again in 2010.
The International Monetary Fund and Nordic countries have promised to loan Iceland around $4.5 billion to help it kick-start the economy. But after initial payments, much of the cash is frozen pending resolution of the Icesave debt.
Finance Minister Steingrimur Sigfusson said voters had sent a very clear message about their disappointment and anger.
www.portfolio.com/business-news/reuters/2010/03/06/iceland-rejects-icesave-bill-in-referendum