Friday, November 4, 2011
Why Iceland Should Be in the News, But Is Not
â€œWe were told that if we refused the international communityâ€™s conditions, we would become the Cuba of the North. But if we had accepted, we would have become the Haiti of the North.â€ In the March 2010 referendum, 93% voted against repayment of the debt. The IMF immediately froze its loan. But the revolution, would not be intimidated. With the support of a furious citizenry, the government launched civil and penal investigations into those responsible for the financial crisis. Interpol put out an international arrest warrant for the ex-president of Kaupthing, Sigurdur Einarsson, as the other bankers implicated in the crash fled the country.