It seems hard to verify this news about Iceland, so if anyone has any contacts in Iceland please try to find out the validity of this mortgage forgiveness and let us know in the comments. Thank you!
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— by Paul Green, Thanatporn Samutkota, Filip Coppens and 36 others.
How come we hear everything that happens in Egypt but no news about what’s happening in Iceland?
In Iceland, the people have made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution.
All of this has been accomplished in a peaceful way.
A whole revolution against the powers that have created the current global crisis. This is why there hasn’t been any publicity during the last two years. What would happen if the rest of the EU citizens took this as an example? What would happen if the US citizens took this as an example.
Here is a summary of the facts:
-2008. The main bank of the country is nationalized.
-The Krona, the currency of Iceland devaluates and the stock market stops.
-The country is bankrupt.
-2008. The citizens protest in front of parliament and manage to get new elections that force the resignation of the prime minister and his whole government.
-The country is in a bad economic situation.
– A law proposes paying back the debt to Great Britain and Holland through the payment of 3,500 million euros, which will be paid by the people of Iceland monthly during the next 15 years, with a 5.5% interest.
-2010. The people go to the streets and demand a referendum. In January 2010 the President denies the approval and announces a popular meeting.
-In March the referendum and the denial of payment is voted in by 93% majority. Meanwhile the government initiated an investigation to bring to justice those responsible for the crisis, and many high level executives and bankers are arrested. —Interpol dictates an order that make all the implicated parties leave the country.
In this crisis an assembly is elected to write a new Constitution which can include the lessons learned from this crisis, and which will substitute for the then current Danish Constitution.
-25 citizens are chosen, with no political affiliation, out of the 522 candidates. For candidacy all that was needed was to be an adult and have the support of 30 people. The constitutional assembly started in February of 2011 to present the ‘carta magna’ from the recommendations given by the different assemblies happening throughout the country. It must be approved by the current
Parliament and by the one constituted through the next legislative elections.
In summary of the Icelandic revolution:
-resignation of the whole government
-nationalization of the bank.
-referendum so that the people can decide over the economic decisions.
-incarcerating the responsible parties
-rewriting of the constitution by its people
Have we been informed of this through the media?
Has any political program in radio or TV commented on this?
The Icelandic people have been able to show that there is a way to beat the system and has given a democracy lesson to the world.
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Previous post about Iceland’s debt forgiveness: Iceland forgives mortgage debt of its population – 12th April 2012>
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