The UK and Netherlands, disappointed over the absence of a bail-out in Iceland are preparing to pursue legal action to recoup their losses from Icelandic taxpayers.
After the failure of the Icelandic savings bank, Icesave, the British and Dutch bailed out their own Icesave depositors -- and now are demanding a four billion euro repayment from Iceland, itself.
Meanwhile, a repayment plan was voted down in an Iceland referendum by almost 60 to 40 percent.
Clearly, the bulk of Iceland's voters aren't interested in paying the bad debts of the banking system -- but the UK and Netherlands governments believe that the taxpayers of Iceland should be forced to pay. |
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