Good news out of Iceland today. Yesterday, 60% of the Icelandic citizenry voted “no” on a measure that would have forced Iceland taxpayers to pay billions of Euros to the United Kingdom and the Netherlands governments.1 This is the second such referendum rejected by the Iceland voters this year. The dispute centers on the 2008 collapse of the privately-owned, Iceland-based bank Landsbanki.2 Lanksbanki ran locations in the United Kingdom, the Netherlands, and Iceland and had over 400,000 British and Dutch customers through its Icesave program.3 When the bank collapsed, these customers were going to lose their funds; instead, the UK and NL governments chose to bail them out, and are now demanding to be repaid for these bailouts by the Iceland government. Since the Landsbanki was a private corporation, the Icelandic people saw this for what it was: outright theft. This is the same type of theft that was perpetrated against the American people when Wall Street was bailed out – money stolen from the taxpayer by the government to pay for the bad decisions of private bankers. Just as in America, the will of the people is going to be trampled regardless of this vote and the theft carried out anyway, since the UK and NL governments are now taking the matter to the tyrannical Marxist EU court system. But, at the very least, the Icelandic people have made their voice heard, and the EU’s theft will now be openly seen. As the EU once again tramples on a nation, its demise will hopefully be that much closer.
Footnotes
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