Presidential Statement.
” … Iceland has demonstrated its willingness to negotiate agreements; we have shown fairness, but at the same time stuck firmly to our democratic and legal rights.
Although a majority of the electorate has in this referendum said ‘no’ with respect to the conclusions of the negotiations which took place last year, it is necessary to emphasise that the nature of the Icesave issue is such that the British and Dutch authorities and agencies will still, notwithstanding this result, receive immense sums from the estate of Landsbanki. In all likelihood, the amounts paid to them will come to the equivalent of USD 7-9 billion, the first payment taking place within a few months.
It is therefore not correct to maintain that the United Kingdom and the Netherlands will not receive any payments. The Icesave dispute has centred on interest payments and the interpretation of the European Union’s regulations. … ”
Statement to the international media on the result of the Icesave referendum.
Moodys rating …who cares & UK Treasurys Statements Are ‘Misleading
“What is the rational of Iceland and other debtor countries paying, especially at this time? The proposed agreements would give Britain and Holland more than EU directives would. Iceland has a strong legal case. Social Democratic warnings about the EU seem so overblown that one wonders whether the Althing members are simply hoping to avoid an investigation as to what actually happened to Landsbanki’s Icesave deposits. Britain’s Serous Fraud Office recently became more serious in investigating what happened to the money, and has begun to arrest former directors. So this is a strange time indeed for Iceland’s government to agree to take bad bank debts onto its own balance sheet.” ~ Michael Hudson