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News Link • Corruption

Iceland To Put "Suicide Banker" Legislation To A Vote Of The People

President of Iceland Ólafur Ragnar Grímsson just announced in a press conference that he will not sign the new Icesave legislation but instead send it to a national referendum. He reasoned that the majority of the nation wants to vote on the legislation as indicated in recent polls. The president also mentioned that only a slight majority of MPs voted against a referendum on Icesave in parliament when the new Icesave legislation was passed last week and that a large proportion of voters had signed a petition urging him to make this move. When a reporter asked the president whether he was not undermining the authority of the parliament by refusing to sign a legislation for which a strong majority of MPs, 44 against 16, were in favor, he said this was not the case. In Iceland, the president is intended to be more of a symbolic than a political leader and before Grímsson took office, no other president ever vetoed legislations.

1 Comments in Response to

Comment by Don Duncan
Entered on:

Does the law help or hurt? That's the question. If it serves an elite at the expense of the people then the MPs who voted for it should be kicked out immediately. Economic ignorance it no excuse. Unfortunately, in most governments, once elected a so-called rep can serve himself at the public expense without penalty. If that was changed, the change would be undermined eventually. That's what you can expect when power is concentrated. If a majority understood this, self governance would reign and the cancer of gov would be cured. 

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