‘Iceland may be the first
Western democracy to be forced into South-American style debt-slavery.
The IMF, in concert with the UK and the Netherlands, has attempted to
strongarm the recently impoverished Island of 317,000 into paying over
3.6 billion pounds ($6.3bn) — $86,000 per Icelandic family — at 5.5%
interest for the next generation. The money is not conventional
government debt, but arises from the collapse of a private
multi-national bank during the financial crisis.
The issue is so serious that the entire nation will vote on the issue towards the end of February 2010.
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