It is important to note the following relatively simple facts in relation to Iceland and Icesave
1. I was part of the leadership from all parties that put together guidelines for what had to be in the new contract between the three nations. One of our demands (the Movement) in order for us to be able to say yes was that the three nations would share the risk if the assets of old Landsbanki would not cover 90% - 100% of the so called debt created by the bank owners. Neither Holland nor the UK were willing to share the risk with us.
2. If issues related to the contract would arise and be taken to court the new contract states that it would be taken to court in Holland. It should have been in a court outside all three countries.
3. I have not met a single NO voter that wants the Icesave burden to be shouldered by taxpayers in any of the three countries. We want the people who stole the money to be held accountable. They still invest and have large companies in their names. We wanted the three countries to collaborate in order to reclaim the money from the white collar criminals.
4. It is high time to set an example for other taxpayers in other countries in order for them to follow suit: to say NO to the socialization of private debt. It is unacceptable that the untouchables rake in the profits without sharing with the rest of us and then expect us to pay for their reckless behavior.
5. The Icelandic people want this case to go to court, if the ESA court rules that the general public should be held accountable for banks that collapse, then we will pay. But to accept this debt without clear understanding on this big issue would be insane.
6. Taxpayers in the UK and Holland will not have to pay this, if all our governments will really put all their efforts to get the money from the people that took the money that was put in the Icesave accounts. The money in the Icesave accounts was real, depositors put it in the Icesave accounts but where is it? I know for a fact that Björgólfur Thor the main owner of Landsbanki the host of Icesave still has large shares in companies in Iceland that are doing really well, those companies with the shares are registered at offshore islands. Time for him to show us the money and pay it back. Let us not forget that spokespeople for the YES in all three countries claim that the assets will cover this.
7. If we would have said yes yesterday, it would have meant that we would have had to pay 29 billion Icelandic Kronas around the middle of this month only in interest. That is unrecoverable money in foreign currency we simply cant afford while it is not clear by legal standards of the EEA if taxpayers should bail out banks.