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Icelanders Oppose IceSave Referendum
(Angus Reid Global Monitor) - Most people in Iceland are against their president’s decision to call a referendum on the so-called IceSave legislation, according to a poll by Capacent Gallup. 51 per cent of respondents reject calling a vote on whether the collapsed IceSave online bank should repay billions in losses to Britain and the Netherlands.
In addition, 53 per cent of respondents would vote in favour of the IceSave legislation, while 41 per cent would reject it.
Iceland has been severely affected by a domestic economic crisis. In 2008, the country’s three major banks—Glitnir, Landsbanki and Kaupthing—collapsed following setbacks in their refinancing plans. The Icelandic krona lost 35 per cent of its value against the euro.
The International Monetary Fund (IMF) and individual countries have provided $10 billion U.S. on loans to Iceland. Thousands of people in the country of just over 300,000 have protested against the government’s handling of the crisis.
In January 2009, Icelandic prime minister Geir Haarde of the Independence Party (SSF)—who was criticized for a perceived lack of regulation of the banking sector—announced his resignation, explaining that he had been diagnosed with cancer of the esophagus. Johanna Sigurdardottir of the Social Alliance (SF) took over as head of government in February. After the April 2009 election to the Great Diet, Sigurdardottir formed a government with the support of the Left-Green Alliance (VG)
The IceSave online bank collapsed along with its parent bank, Landsbanki, in 2008. IceSave owes close to $5.4 billion U.S. to the Dutch and British governments, who were forced to compensate the online bank’s users when it crashed.
The president is regarded as a largely ceremonial dignitary in Iceland, who is meant to act as a symbol of unity for the nation, but has the power to veto bills passed by the legislature.
On Jan. 5, Icelandic president Olafur Ragnar Grimsson vetoed a bill passed by legislators which approved the repaying of IceSave’s debt to the Netherlands and Britain. Grimsson then asked parliament to call a referendum on the matter and leave it in the hands of voters, saying, "The participation of the nation in the final agreement is the only viable outcome."
On Jan. 8, the referendum bill was unanimously approved by the Great Diet. Existing legislation calls for the vote to take place no later than Mar. 6.
Polling Data
Do you support or oppose the president’s decision to call a referendum on the IceSave legislation?
|
Support |
41% |
|
Oppose |
51% |
|
Not sure |
8% |
How would you vote in the referendum?
|
In favour of the IceSave legislation |
53% |
|
Against the IceSave legislation |
41% |
|
Not sure / Blank vote |
6% |
Source: Capacent Gallup
Methodology: Interviews to 1,200 Icelandic voters, conducted on Jan. 5 and Jan. 6, 2010. No margin of error was provided.
