Wednesday, January 06, 2010

Iceland Melts Back Into Chaos

And you thought the Governor General was the only figurehead making news these days. The Icelandic President has vetoed a bill for the second time in sixty years. This is kind of an important bill: it deals with repaying the UK and the Netherlands for bailing out Iceland after their banks collapsed in the fall of 2008. The veto will now drag the repayment terms in front of Iceland's electorate for a referendum. If the referendum fails, Iceland would face the reality of defaulting on its debt. EU membership would appear to be impossible until this crisis is resolved. Yikes.

1 comment:

CanadianSense said...

Maybe we can get them to emigrate to Canada and populate our North!

They can leave town literally.

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