When the final ballots had been counted it became clear that 134,397 voters in Saturday’s referendum rejected the Icesave legislation of December 30—or 93.2 percent of those who voted. Only 2,599 voters, 1.8 percent, wanted to pass the legislation. Posts Tagged ‘Icesave’
Iceland’s Icesave Referendum: Final Results
Monday, March 8th, 2010When the final ballots had been counted it became clear that 134,397 voters in Saturday’s referendum rejected the Icesave legislation of December 30—or 93.2 percent of those who voted. Only 2,599 voters, 1.8 percent, wanted to pass the legislation. The Enemy Reveals Himself
Sunday, March 7th, 2010With a smug grin he revealed last night and today what he had wanted all along. It wasn’t a national referendum on IceSave. It was for the government he opposes to resign.
Steingrimur J. Sigfusson asked the nation how it thought an agreement could be made with a saboteur on our very own negotiating team.
Of course Sigmundur David Gunnlaugsson, chairman of the Progressive Party and founder of the InDefence pressure group would never have dreamt up a more favorable situation. Half of the nation had bought his spin and handed him the spin necessary to demand a clear path to the power tables. Preferably before the congressional report on the economic crash due out soon.
I hate to say I told you so, but I did and Icelanders were played by a snake oil salesman and too many of them bought it. He has divided the nation and now humbly offers to lead it from distress.
The enemy does not have Iceland’s interests at heart. It is all about the money (did we mention how he became a billionaire through an unholy alliance of politics and business) and the mandate to lead Iceland during these turmoilous times when the wealth and debts of the nation are distributed.
Iceland’s enemy number one has revealed himself and his name is Sigmundur David Gunnlaugsson.
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Official confirmation of huge Iceland ‘no’ vote in Icesave referendum
Sunday, March 7th, 2010
With final numbers now released in all voting districts, the resounding ‘no’ vote is official.
Nationwide, 144,231 people voted of the roughly 230,000 registered voters. 2,599 (1.8 percent) of them voted to accept December’s Icesave repayment plan and 134,397 (93.2 percent) voted to reject it. The overall turnout was 62.7 percent of registered voters.
The final outcome of the referendum was delayed by the results which have only just been released from the Northeast Iceland voting district, as bad weather had been preventing voting slips being flown to Akureyri from Grimsey island. With the inclusion of the 32 votes from Grimsey, the Northeastern numbers are as follows: 58.28 percent of the district’s 28,587 voters turned out to cast their ballots. 329 voted yes, 15,667 voted no, 899 ballots were empty and 52 were invalid.
Analysis: What are Icelandic Voters Trying to Tell the World on Icesave?
Sunday, March 7th, 2010
After the almost unanimous no on the Icesave-law everyone wants to interpret the result to his liking. A Dutch reporter says: “Icelandic voters vented their fury on Saturday at the bankers and politicians who ruined their economy.” Analysis: Iceland vote: 98 to 99% say NO! to Icesave-law
Saturday, March 6th, 2010
The election on the government's Icesave law was held today in Iceland and the first results indicate that over 98% of valid votes say no to the law. About 5% of the ballots were invalid or blank. This result is a big blow to the Icelandic government. Icesave referendum ends, first results released
Saturday, March 6th, 2010
Icelandic polling stations closed at 22.00 and initial results are being released immediately.
Voter turn out was lower than in the last parliamentary election.
With 74,151 votes counted so far nationally, 68,993 of voters have chosen to reject the December Icesave repayment deal. 93.1 percent of votes nationally have been ‘no’ votes and 1.6 percent ‘yes’.
19,300 people voted in Reykjavik North. 356 said yes, 17,738 said no and 1,206 empty ballots were cast in protest. 19,500 people voted in the Southwest region. 250 voted yes, 18,350 voted no, 850 ballots were empty and 50 were invalid.
Prime Minister Johanna Sigurdardottir told RUV that she is not at all surprised at the result because the law the people were voting on is in fact no longer relevant as a better deal has already been offered. Finance Minister Steingrimur J. Sigfusson said he is personally surprised at how many people voted yes. Both say they are confident that the referendum outcome will not break up the government.
Analysis: Icesave makes Strange Bedfellows
Saturday, March 6th, 2010
Today, Saturday March 6 Icelanders go to the voting booths to have their say on the law on payment for the so-called Icesave debt. The British and Dutch governments claim that they lent money to Iceland to pay for the default of Landsbanki, an Icelandic bank that took deposits in both countries. 
Slow start to Icesave vote
Saturday, March 6th, 2010
Roughly half as many people have turned out to vote in today’s Icesave referendum in Iceland as at the last parliamentary election.
2,034 people in Reykjavik South had cast their votes before 11.00 this morning, which is 4.62 percent of the total registered voters. In comparison, 8.14 percent had voted by 11.00 in last April’s general election.
In Reykjavik North 1,776 votes had been cast by 11.00, which is 4.04 percent. The figure by 11.00 on last April’s voting day was 7.05 percent.
7.5 percent of voters had turned out by 11.00 in the northern city of Akureyri. Compared to 8.3 percent at the same time last April. Polling staff in Akureyri are describing the early turnout as ‘reasonable’.
Polling stations close at 22.00 this evening and it is quite possible that the pace of voting will pick up as the day proceeds.
Icesave negotiations to continue next week?
Saturday, March 6th, 2010
The British and Dutch authoritites have apparently indicated that they will be willing to hold more Icesave talks next week.
Icelandic Finance Minister Steingrimur J. Sigfusson revealed this information while speaking on television last night, saying the British and Dutch intend to hold back from discussions while today’s referendum goes ahead; but are ready to continue the process next week.
Meanwhile the referendum on the December Icesave law is happening right now. Initial results are expected to appear shortly after the polls close this evening. Icelanders are widely predicted to vote against the controversial repayment deal with the UK and the Netherlands.
Iceland’s Icesave referendum underway
Saturday, March 6th, 2010
Icelanders have been voting in the referendum on December’s Icesave law since 09.00 this morning.
There are around 230,000 eligible voters in today’s referendum and the majority have had to wait until today to get their voices heard – although absentee and advance voting have been running for weeks.
The first results are expected at around 22.00 this evening with updates throughout the night.
National Referendum: A Sad Day For Democracy in Iceland
Friday, March 5th, 2010Tomorrow is the first national referendum Icelandic citizens have been allowed to participate in by the political elite since the conception of the republic in 1944. By all measures, this should be a happy day for democracy in Iceland.
But instead it is not a cause for celebration but a large milestone in the farcical power play which has taken place between the four largest political movements in Iceland since 1944.
Yes, a farce. “Isn‘t that what this whole thing really is”, asked a Dutch journalist yesterday after surveying the scene? It is a sad day.
The media has a lot to answer for
The media has a lot to answer for. Instead of allowing people like law professor Bryndis Hlodversdottir and political science professor Svanur Kristjansson to explain to the nation why this isn’t good democracy, the media has instead handed the microphones to red-faced, unbalanced Sigmundur David Gunnlaugsson, chairman of the Progressive Party whose political career has revolved around kicking up as much mess as possible around IceSave. It makes for a better TV than a balanced approach and it creates pressure on the government he opposes.
In his wake you can see the pressure group InDefence whose members include Progressive Party players and someone who was recently kicked out of the Central Bank for bypassing the currency restrictions which are supposed to be holding our economy together. And the rabble rousers from the Independence Party who are glad the spotlight isn’t on them.
Why isn’t the referendum good democracy? Well, the question is useless as there is a better offer on the table. The information to make an enligthened decision have not been easily available. And the consequences of a yes or a no are unknown. And how do you vote on whether your nation should pay its debts or not? Of course nobody wants to pay. But that is what three governments have now promised Holland and the UK that we are going to do. The rest is just details, isn’t it? And we can argue endlessly over details can’t we? Did the government or the opposition ever tell us what their goals were regarding payment terms, interest rates and such? What exactly is an agreeable agreement to Iceland?
So far, no details have been good enough for the opposition, which includes the Independence Party who would have agreed to a less favorable agreement a long time ago if only they were still in government. And to some people it seems like any deal is a bad deal because then the spotlight will turn towards other matters? Could it be that Iceland’s enemies are not abroad, in Amsterdam or London but actually in Reykjavik, Blonduos and Akureyri? So far, the problem hasn’t been about Iceland’s democratically elected government not reaching an agreement with the UK and Holland. It has been about not reaching an agreement with the opposition. The opposition, coupled with a few Left Greens who think that Iceland’s future as a self sustainable country in the vein of Cuba is viable, has stalled, filibustered, argued and kicked up a storm at every turn. Some academics have suggested that every month stalled has cost Iceland 70 billion ISK or so, a large chunk of IceSave. Are the small details really worth it or are more sinister forces at work here?
For the opposition’s part, the longer this thing drags out the more turmoil there will be in Icelandic society. And who will the voters blame? Well, of course the people in government. And then the way is clear for the opposition to resume power. And don’t think for a minute that they would not try to negotiate with the Brits and the Dutch.
Olafur Ragnar Grimsson. The cheerleader of the business-vikings who raped and plundered Iceland. (Finnish president Halonen not included)
The political elite has a lot to answer for
The political elite has a lot to answer for. Olafur Ragnar Grimsson, a lame duck president, paralyzed by his constant smooching with the money-men of yesterday, has suddenly turned the tables somehow to making some foreign journalists believe that he is at the forefront of a fight against capitalism. Don’t be fooled. It was just about his own legacy, and the trouble the four parties have created by constantly refusing constitutional reform which would sharpen his role and responsibilities. They never did because they don’t want to limit their own powers. It is a diabolic merry-go round.
The people have a lot to answer for
The people have a lot to answer for. We have voted for bad politicians and we have voted for a bad system. And we have been fooled into all sorts of bad positions because we are hapless joiners who too easily take sides with demagogues and snake-oil salesmen to easily. The mob has allowed the political elite to maintain its grip on society. Recently it has mindlessly signed petitions for InDefence and Thjodarhagur, honked horns with a slightly facist New Iceland and gathered at an Anthill for a Nation’s Meeting without asking who is behind all these groups and what is their purpose. And now it will flock towards a referendum where one of the options is out of the question, and in many cases not having a clue what they are voting for. Iceland not paying any debts. Count them in.
So what will happen tomorrow? A big no vote of course. And what does it mean? Some people think it is a message of some sort which will improve the negotiating position of Iceland. But really?
Three likely scenarios
a) The government keeps going and attempts to find a solution with the UK and Holland on the grounds that “people are against paying these debts”. Why would the UK and Holland see that as an argument? Those countries can wait. The IMF loans could wait as well. The government is backed into a corner and has little options but to resign.
b) The government keeps going and attempts to find a solution with the UK and Holland on which the opposition can agree to. Which is unlikely, because the opposition can wait until things are so tight that it can assume power on a wave of discontent.
c) The government resigns. The current opposition resumes negotiations and quickly finds an “acceptable deal” with minor adjustments which they will take credit for. The new opposition kicks up a storm. Then what? A new national referendum on that deal?
Bjarni Benediktsson and Sigmundur D. Gunnlaugsson. Opposition party leaders and billionaires.
It is really a whole big mess. And it does not make one proud of being an Icelander. What is currently taking place in Iceland has nothing to do with democracy. It is cold hard realism which has everything to do with power and money. Consider who is leading the opposition. Two, middle aged men who have become filthy rich through the cosy relationship between politics and business in the last few decades. They want people to think that this is about democracy, independence, justice and standing up to the man.
And the real enemy within escapes the attention meanwhile and grows stronger from the strife.
It is a sad day. The first national referendum of the republic since its beginnings and it is for the political elite, by the political elite and benefits the political elite. There could have been so many other more apt matters and issues for the nation to deliberate on, the fishing quota system, support for the war in Iraq, constitutional reform. But no, instead we get this farce.
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Speculation grows over Iceland FinMin’s future after Icesave referendum
Friday, March 5th, 2010
The political life of Icelandic Finance Minister, Steingrimur J. Sigfusson could be coming to an end if a new Icesave deal cannot be reached with the British and Dutch before Iceland’s referendum on Saturday.
Negotiations are said to be at loggerheads and no new meeting has yet been announced for this morning. According to Visir.is, this means a political crisis could soon hit Iceland.
Few have invested so much time and effort in the Icesave issue as Sigfusson has and he has been pushing hard for a final solution since the first set of negotiations ended last June.
For this he has not only had to answer to the opposition, but also to dissenters in his own Left Green Party. Ogmundur Jonasson resigned his position as Health Minister over his disagreement with his party’s line on Icesave; and he and Lilja Mosesdottir both voted against the government in parliament.
Visir.is sources within government state that Sigfusson’s position will be seriously weakened if no new deal is confirmed before Saturday and the nation then votes the existing law down.
Sigfusson and Prime Minister Johanna Sigurdardottir have both been careful to avoid linking the Icesave referendum to the status of their coalition government; but it is clear a defeat would make the job of the government more difficult.
The possibility of a new deal before the referendum results are known still persists; but any government hopes to postpone or cancel the ballot have now evaporated.
Every home in Iceland this week received a brochure explaining the referendum in close detail. It is also available in English here.
No Results in London Icesave Talks
Thursday, March 4th, 2010
A four-hour meeting between the negotiation committees of Iceland, the UK and the Netherlands ended in London last night without any results. A new meeting has not been scheduled, yet the Icelandic committee is staying in London. Iceland referendum preparations continue despite London talks
Thursday, March 4th, 2010
It is unlikely that Saturday’s Icesave referendum in Iceland will be postponed, the Prime Minister said.
An un-named Icelandic government representative told RUV that the referendum on December’s Icesave bill will definitely go ahead this Saturday unless a new contract with the Netherlands and the UK can be reached early today. Icelandic negotiators met with their British counterparts in London for much of yesterday.
The meeting ended yesterday evening but the outcome of the meeting has not yet been formally stated. News is expected this morning.
Icelandic Prime Minister Johanna Sigurdardottir told media yesterday evening that it is unlikely the referendum will be postponed or cancelled even if a new deal was struck last night or this morning. There is no longer enough time to pass a new deal into law before Saturday, she explained.
Finance Minister Steingrimur J. Sigfusson disagreed slightly, saying that it is still technically possible to stop the referendum going ahead; but added that it is now highly unlikely.
The offer the Icelandic negotiators took to London last week was rejected and the British counteroffer was subsequently rejected by Reykjavik. The negotiators have since been working on interest and technical issues. Sigurdardottir said lowering Iceland’s payment burden and lowering the interest rate have been top of the agenda.
Icesave referendum a waste of money or a necessary barometer of opinion?
Wednesday, March 3rd, 2010
Steingrimur J. Sigfusson, Iceland’s Finance Minister has told the press that this Saturday’s Icesave referendum will be perfectly pointless and a waste of money if a new contract is on the table. Prime Minister Johanna Sigurdardottir meanwhile did not rule out the possibility of delaying the plebiscite for one week.
A national referendum on the so-called Icesave law is due to be held this Saturday following President Olafur Ragnar Grimsson’s January decision not to ratify the bill. The referendum will go ahead as scheduled unless the British and Dutch governments agree to renegotiate the deal which is widely expected to be rejected by voters. One of the main reasons it is likely to be rejected is because the terms being voted on are less favourable than a more recent Anglo Dutch offer which the Icelandic side rejected.
The leader of the opposition Independence Party, Bjarni Benediktsson has meanwhile stated that the referendum should go ahead on schedule without question as there has been no clear indication yet that the British and Dutch are willing to offer a significantly better deal.
Progressive Party leader Sigmundur David Gunnlaugsson told RUV that although the public will likely vote ‘no’ in the referendum, there is no indication that the current government will split as a result.
Brits Said to Mull Over Icelandic Icesave Offer
Monday, March 1st, 2010The Icelandic negotiation committee was in London last weekend to exchange information with the British committee, which is allegedly calculating the impact of the Icelandic offer. The Dutch finance minister said they are always open for discussions. Frosty view on Icelandic bank rescue
Saturday, February 27th, 2010When the Icelandic bank Icesave collapsed in 2008, the British government promised to insure savers' deposits and a deal was done for the money to be paid back - but that's now being put to a referendum in Iceland.
Confidential Icesave documents leaked on Wikileaks
Saturday, February 27th, 2010
The final deals on offer from both sides in this week’s Icesave negotiations have been released to the public on the Wikileaks website.
The British and Dutch final offer document shows that they have considerably lowered their interest demands on loans to Iceland to cover repayments for the failed Icesave internet bank accounts. However, Iceland’s final offer document shows its negotiators still consider any additional interest charges to be simple profiteering and neither side has been willing to back down.
The Icelandic offer can be seen here: Icelandic_Icesave_negotiation_team_offer_to_UK_and_NL 25_feb_2010, and the British and Dutch offer can be viewed here: UK-NED ICESAVE proposal feb 2010. (Both are .pdf files)