Iceland President Accuses England, Holland of Financial “Bullying”
2010 02 01

By Anouk Lorie | CNN


Iceland's president accused the United Kingdom and the Netherlands on Friday of financially "bullying" his country.



Olafur Ragnar Grimsson said the two countries had been "using their influence within the International Monetary Fund" to stop it lending Iceland billions of dollars needed to rebuild the country's debt-ridden economy.

"We are being bullied. The British and the Dutch are using their influence within the IMF to prevent the IMF program from going forward," Grimsson told CNN's Richard Quest.

"We have a situation, where a small nation is in fact ready to shoulder part of this burden but doesn't want to be put in a corner where the very survival of its economy in the next 10 years would be at stake."

The comments came after the UK expressed anger at the highly controversial decision by Iceland's president's to veto a bill that would pay back billions of dollars Iceland owes the UK and Netherlands. Britain was forced to spend $3.69 billion last year to cover the losses that British savers incurred when Icelandic banks collapsed.

The British and Dutch governments condemned the decision by President Grimsson and hinted at repercussions for Iceland's bid to join the European Union and for its $10bn international economic rescue program.
Despite being already approved by Iceland's parliament, Grimsson refused to sign the bill and called for a national referendum.

Grimsson told CNN: "May I remind that if you take the sum that the Icelandic taxpayers are asked to shoulder and you transform it in to the British economic system to get the relative size, this is equal to the British taxpayers being asked to pay £700 billion ($1.1 trillion) for the years and decades to come."

Icelandic Prime Minister Johanna Sigurdardottir hinted that the move could further tarnish the country's image and crush its hopes to become a member of the European Union.

"Uncertainty... in the formal dealings with others countries can have unforeseen, wide-ranging and potentially damaging consequences for our society," she warned.

Announcing that Iceland was bankrupt ... was at worst, financial terrorism on their part
--Olafur Ragnar Grímsson


And while the repayment of Iceland's debt to the UK and the Netherlands is not theoretically a pre-condition for it to receive IMF funding, the president's actions could hinder it.

But Grimsson told CNN his move was in the name of democracy. He said he acted in response to the one-quarter of Icelanders who petitioned against the compensation bill that would cost about $17,300 per Icelandic citizen.

"We have forgotten that there are two pillars in the western heritage that we are proud of. One is the evolution of the free market but the second is the evolution of democracy," Grimsson told CNN.

"And what I did was when I was faced with a decision between the financial concerns on the one hand, and democracy on the other, I decided to go with democracy."

Grimsson's veto also reflects his country's anger with their treatment at British hands at the height of the economic crisis, when the UK employed anti-terror legislation to freeze Icelandic assets.

"They put my country, on the official Web site, the British government Web site, side by side with al Qaeda and the Taliban.

"And the second thing was that Gordon Brown in October and Alistair Darling went on global television, including CNN and stated that Iceland was a bankrupt country.

"Which was utter nonsense at its best and financial terrorism on their part at its worst." He added: "This meant that companies all over the world, who had had dealings with Iceland, closed their operations down."

As a result, said Grimsson, his economy was damaged by the British "to a greater extent than otherwise would have been the case."

In a statement on January 6, however, a spokesperson for the British prime minister said that "the Government expects the loan to be repaid.
"We are obviously very disappointed by the decision by the Icelandic President, but we do expect Iceland to live up to its legal obligations and repay the money."

Article from: CNN.com



Birgitta Jonsdottir - Financial War Against Iceland
We have member of the Icelandic Parliament Birgitta Jonsdottir with us from "the movement" to talk about the financial warfare that has been taking place against the people of Iceland since the Lehman Brothers-AIG world financial panic in September-October 2008. The governments of London, the Hague and the EU with the backing of the IMF is at the heart of this financial blackmail.



Also Tune Into:

Ellen Brown - The Web of Debt & The Manufactured Financial Crash

Joan Veon - G20, Global Credit Crisis & Public-private Partnership

Catherine Austine Fitts - Swine Flu, Vaccination & The Economy

G. Edward Griffin - 4th of July & The Creature From Jekyll Island



Related Articles
Support Iceland Against the Financial Blackmail of the British and Dutch Governments and the IMF
savethepeopleoficeland.com
Icesave dispute
The Financial War Against Iceland
Ólafur Ragnar Grímsson - Wikipedia
Call To The People Of The World To Support Iceland
Why Iceland and Latvia Won’t (and Can’t) Pay the EU for the Kleptocrats’ Ripoffs
Icelanders protest economic meltdown
Women Reach for Power in Iceland


Latest News from our Front Page

Ingraham to Zuckerberg: Time for Open Borders at Your Mansion
2014 09 19
Talk radio host Laura Ingraham re-iterated her challenge to debate Facebook co-founder and CEO Mark Zuckerberg and criticized him for securing his property while demanding the US allow illegal immigrants to remain in the country on Monday. “In the end, borders work for these guys. Right, I would not want to be on [Facebook board member] Marc Andreesen’s household staff if ...
MasterCard tests Orwellian national ID card on Nigeria
2014 09 19
The march toward enslaving the world’s population by a handful of globalist statists and corporations continues, with the latest chapter unfolding, of all places, in Nigeria, compliments of MasterCard. According to the website GovtSlaves.info, the credit card giant is rolling out a card in Africa’s most populous country that has the ability to retain all personal, health insurance, tax payment and ...
Doctor: Gov’t ‘Tight-Lipped’ on Respiratory Virus, May Be From Illegals
2014 09 19
Dr. Jane Orient, Executive Director of the Association of American Physicians and Surgeons, reported that the government has been “real tight-lipped” about the mysterious respiratory illness that has struck children in the United States, expressed concern that the illegal immigrant minors from Central America could be the source, and argued that the government should devote more resources to border security ...
Breaking—CDC whistleblower: “I’ve stopped lying”
2014 09 18
Explosive…explosive…explosive… What more could anyone want in the way of evidence for an ongoing crime? There is a video posted at the autism media channel/YouTube, and at Age of Autism: “William Thompson’s call to Congress.” It is a recording of a telephone call between CDC whistleblower Thompson and Brian Hooker, PhD. No date is given. Presumably, the call was recorded before August 27, when ...
Ebola patients buying survivors’ blood from black market, WHO warns
2014 09 18
As hospitals in nations hardest hit by Ebola struggle to keep up, desperate patients are turning to the black market to buy blood from survivors of the virus, the World Health Organization warned. The deadliest Ebola outbreak in history has killed at least 2,400 people in Guinea, Liberia and Sierra Leone -- the countries most affected by the virus. Thousands more are ...
More News »