Iceland

This month, Iceland’s voters voted 60% to reject the repayment of bank debts. The British and Dutch governments want the Icelanders (329,000 population) to repay $4 billion that these governments reimbursed to their own citizens when Icesave bank (London) went bust. The sum involved is 50% of Iceland’s GDP. And the Iceland President thinks that a sell-off of assets of Landsbanki, the collapsed parent bank may cover 90% of the costs.