This is a part of an article that David McWilliams wrote see link
Yesterday the, largely ceremonial, president of Iceland stood up for what is right. He decided that it was not democratic for the Icelandic government to insist that the Icelandic people pay foreign depositors who deposited money in Icelandic banks that subsequently went bust.
The president refused to sign the parliament’s bill, which would have penalised the Icelandic people for the mistakes of the executives of the Icelandic banks. He concluded that this was not reasonable as the banking mess was not the fault of the average Icelander. Iceland will have a referendum on the issue now.
This move implies that Iceland might jeopardise its access to IMF funds as well as definitely knock back its aspirations to join the EU.
The official line peddled by the international bureaucrats is that standing up for the small guy undermines Iceland’s credibility. However, the president decided that if credibility in the eyes of the foreign investors comes via hoodwinking the average Icelandic citizen into footing the bill for a mistake the financial markets facilitated, then it was better to be not credible.
Dear Madam President,
The Nama Bill was passed in the Dail this afternoon by 81 votes to 62.
This is the single biggest fraud perpetrated on the Irish people and all 81 TD’s that
Voted for this will be held accountable!
Nama will buy property loans with a supposed book value of 77 billion Euros, according to the Government
Brian Lenihan has estimated that the loans are currently worth about €47 billion.
On what bases could he possible justify this valuation?
Who exactly is being bailed out, none other than foreign entities with no allegiance to Ireland
Why anybody would take anything that this person says seriously, judging on his past record and bearing in mind that this person is responsible for the crises in the first place along with his incompetent cohorts !
By overpaying by €7 billion, the Government hopes to avoid bankrupting the banks
What a laugh, somebody should tell him that they are all ready bankrupt, (morally, socially, and financially)
These Banks have in the past stole from their own customers, the revenue and have being shown to be corrupt and found trying to manipulate each other’s shares and yearly accounts
The Bill will now be sent to President Mary McAleese
I appeal to you, the President, Mary McAleese
Not to sign this piece of legislation and as President to protect the Irish constitution which guarantees all the people the right to be heard?
The 500 green party members had their vote and now the vested interests in the Dail have had their say
We the ordinary people want to have our say, call a referendum on NAMA
Demand that this be brought before the people now!
This is the reply I got !
Our Presidency is just another link in the chain that is strangling Irish Democracy
No sooner has the current president set foot in the Aras she has immersed herself into the game of staying in power and sod the rest of the ordinary people
What a difference the Irish president sends out the above letter and supports the foreign bond holders but the, president of Iceland stood up for what is right. He decided that it was not democratic for the Icelandic government to insist that the Icelandic people pay foreign depositors
The Icelanders at least have a true Man of the people in their President
We on the other hand have yet another stooge for the ruling elite