UK to sue Iceland over lost billions, official says

[Viva_La_Revolution]

Source: cnn

London (CNN) -- An increasingly bitter dispute between the United Kingdom and Iceland over billions of dollars lost when banks collapsed is likely to end up in court, a top British government minister said Sunday.

The British government has "an obligation to get that money back, and we will continue to pursue that until we do," said Danny Alexander, the chief secretary of the Treasury.

He was speaking Sunday after Iceland's people voted to repeal a law aimed at solving the dispute.

Six out of 10 voters in the referendum on Saturday opposed the law, the government said in a statement Sunday, saying turnout was high.

Read more: http://edition.cnn.com/2011/BUSINESS/04/10/uk.iceland.banks/index.html?eref=edition

[Skink]

1. The Icelandic offshore bookie operation.

[Marblehead]

2. Someone should sue the banksters.

[WatsonT]

3. Good luck with that

The money is gone.

But at least the lawyers will get paid.

[northernlights]

4. I vaguely remember reading, the last time the Iceland dabacle hit the front page,

that the contracts included a fine print clause holding investors/depositors responsible for any losses and absolving the bank from any responsibility.

Does anybody else remember reading that?

[stockholmer]

5. Iceland's the model the world needs to follow,REFUSE to let private losses to be paid by the public

plus, they are actually arresting the heads of the banks

[bemildred]

6. That's it, throw more money down a rathole. nt

[Warren Stupidity]

7. I enthusiastically support the bronx cheer the people of iceland

just sent the banksters of the international criminal financial cartel.

[stockholmer]

8. excellent blog on Iceland by Birgitta Jónsdóttir(MP from the Movement, the leading anti-bank party)

http://joyb.blogspot.com/

[bemildred]

9. Thanks, nice blog, she writes well. nt