Icelandic People Refuse To Pay International Debt Caused By Banks

ICELAND — Following the start of the 2008 financial crisis, Iceland went bankrupt, due to questionable associations with foreign countries by that country’s three largest banks.

After loan negotiatons went belly-up there, including a requirement that each Icelander pay $130 per month for 15 years, at 5.5 percent interest, to cover costs incurred by private parties, Head of State Olafur Ragnar Grimsson declined to ratify the new law that would make Icelanders responsible for bankers’ debts, and supported calls for a referendum.

As globalists warned of dire consequences and penalties against Iceland if its citizenry did not accept the responsibility to cover for the banks, the Icelandic government launched investigations into the those behind the financal crisis and issued warrants for bankers implicated in the wrong-doing.

Icelanders also agreed to some budget cuts, primarily involving disbanding the military infrastructure. This was followed by drafting a new constitution in order to be free from foreign financial interests.