Quote from Martinghoul:
I think you need to read a bit more about the EU depositor protection regulations that Iceland agreed to and signed into national law, only to renege when they found that it's too difficult to pay the claims of British and Dutch creditors. Are you suggesting that it's OK for Iceland to avoid taking responsibility for their banks' recklessness that they have been willing to underwrite in the past? The very same President Grimsson was the biggest cheerleader for Icelandic banks during their heyday in 2007. Now that they're bust, he suddenly decides that the people of Iceland are not responsible for their excesses. Convenient, don't you think?
Don't you think it's rather telling that Iceland's Nordic neighbors, the IMF, the Dutch and the Germans are all withdrawing plans to offer emergency loans to Iceland (it's not just the UK that's pissed off, contrary to popular knowledge)?
In my view, this is just Iceland trying to negotiate better terms on the Icesave deal...