The President of Iceland is a criminal.

[Treize]

Iceland's president has refused to sign a controversial bill to repay $5bn (£3.1bn) to the UK and the Netherlands. President Olafur Ragnar Grimsson said he would instead hold a referendum on the bill, following public protests.
The legislation was designed to compensate governments forced to bail out their savers with Icesave accounts following Iceland's banking collapse.
Opponents argue the terms of the payments will unfairly hurt Iceland and its recovery from economic crisis.
Some reports say those opponents form a large majority of Icelanders - some 70% are said to be likely to vote "no" in a referendum.
Legislation to repay the money was approved by Iceland's parliament in December, but the approval of the president is also required before it can be passed into law.
It is now up to the government to decide how to proceed. It must consider whether to go ahead with a referendum or whether to withdraw the bill and reopen negotiations with the UK and the Netherlands about a repayment schedule.

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Lending doubts
In response to the decision, the Icelandic parliament, which approved the new bill last month, said the move could further tarnish Iceland's image abroad.

"Uncertainty... in the formal dealings with others countries can have unforeseen, wide-ranging and potentially damaging consequences for our society," warned Johanna Sigurdardottir, Iceland's Prime Minister.
The Treasury's City Minister, Lord Myners, said he shared the Icelandic parliament's disappointment, and warned the public against voting against the bill in the referendum
"The Icelandic people, if they took that decision, would effectively be saying that Iceland doesn't want to be part of the international financial system," he said.
The Dutch government said Iceland was still "compelled to pay back the money".
BBC Brussels correspondent Dominic Hughes said the longer-term impacts of the decision could be significant for both political and economic reasons.
"It's seen as a blow to the country's hopes of a quick entry to the European Union," he said.
"In fact, the whole debate has soured feeling in Iceland towards the EU.
"It also throws doubt on further aid payments to Iceland from international lenders."
Iceland's credit status has already taken a knock. One agency that grades the fitness of a country's finances, Fitch Ratings, has put the country's debt rating at "junk" status, meaning it it must pay a higher interest rate to attract borrowers who are not certain to be paid back.
The crisis in Iceland's banks forced it to borrow billions of dollars from the International Monetary Fund (IMF) - loans made on the condition that the issue of Icesave compensation would be resolved.

Not only to us but also to his own people.
If this referendum is held we will never see our money back and Iceland's foreign relations will suffer.
What do you think?

[Poet]

he can be called a criminal but not even matching with Tony Blair, who ruined Iraq and Afghanistan, with help of U.S. so first sling him up he is a war criminal not only a criminal.

[Prince of Yunderup]

Criminal was the first thing I thought as well, he has taken the cowards way out with a referendum. If it comes back 'no' he gets his way, but he can't be blamed because it was the referendum that decided it not him, and a referendum decision is faceless ie. you can't blame just one person.

[Treize]

Atleast Tony Blair did not steal 1.5 billion from us.

[Copperknickers II]

Atleast Tony Blair did not steal 1.5 billion from us.

No, he stole a lot more than that from his own country in paying for his two unwanted wars.

[blackwatersix]

He's doing the right thing with regards to his nation's interests by following what is likely the will of his people. I expect nothing less from leaders who have the mandate to represent their people. He's a criminal to those whom Iceland owes money to, but a hero to his people. I believe rulers must always look out for the best interests of their people, and with democratically elected leaders they have the mandate to enforce the will of the people.. no matter how flawed that will might be.

Sure, foreign relations might suffer, but meh, that's what the sovereign people of Iceland want. Let 'em. C'est la vie.

[Erlinggra]

How does not bailing out banks make you a criminal?

[Treize]

He does not want to pay back their debts, he is a criminal.

[blackwatersix]

He does not want to pay back their debts, he is a criminal.

Change "he" to "they". It's not just him, the masses want it.

[AqD]

He does not want to pay back their debts, he is a criminal.

Who said he has to pay it back? There is no right or wrong in international affairs!

[Erlinggra]

Neither he nor the Icelandic people has anything to do with the actions of a few Icelandic owned banks.

[Treize]

The Icelandic government elected by the Icelandic people had crappy economic policies.
Their fault, they pay.

[Erlinggra]

The Icelandic government elected by the Icelandic people had crappy economic policies.
Their fault, they pay.

You blame the Icelandic government for the banking policies in Luxemburg, the UK and Netherlands?

[Admiral Piett]

If they don't do it will they become part of Denmark again?

[Tiberios]

If they don't do it will they become part of Denmark again?

Hopefully we should revoke their independence.

On a more serious note, this doesn't surprise me. But a criminal, perhaps not.

In some way, I can understand it. On the other hand, they should pay there dept.

[Treize]

Let's wait untill the referendum outcome before calling the Icelanders criminals.

[blackwatersix]

Let's wait untill the referendum outcome before calling the Icelanders criminals.

Good call. I agree.

I just admire the balls of the guy though, if he does represent the interests of the Icelanders. It's not that easy saying "no" to countries more powerful than yours.

[Phier]

Iceland has no army or navy to speak of.

Send debt collectors

[blackwatersix]

Iceland has no army or navy to speak of.

Send debt collectors

They got police.

[Treize]

Iceland has no army or navy to speak of.

Send debt collectors

We could send the Marines to occupy their capital.
Pay or else we pillage the place.
'A cookie of their own dough' we say.