Netherlands has warned Iceland??

Bad idea. And the threat regarding joining the EU is even worse.

We should not have provided the money in the first place. I am sorry people invested and lost. But why is my money being used to repay them? Are we going to support those who invested with Madoff?

Further, we should not have provided the loan until and unless the deal was fully endorsed by the Icelandic parliament. They did not and we lost. Shame on you, Verhagen.

We (Verhagen) made an error. Be a man, stand up and admit it. Then move on.

By bobsocks | July 22, 2009 10:07 AM

Comments and threats like foreign minister Maxime Verhagen is making only help us make up our minds.

And it will not be the way mr. Verhagen intended.

By Bjorn | July 22, 2009 11:34 AM

It is clear that the Iceland government has no legal obligations to approve this deal on repaying the €1.3bn to The Netherlands. There is an obvious flaw in the EU regulations and hammering Iceland to repay this is a pure political issue within the EU. How on earth is a tiny little nation up north going to be able to repay €1.3bn to us and even more to the UK??? We should not have repaid these 'naive' investors and even in the first place we should not have allowed to start this Icesave at all as a subsidiary of a tiny bank from a tiny country! Where is our responsibility when it comes to that?

By gg | July 22, 2009 4:25 PM

Icelandic Government allowed Icesave to trade in their irresponsible way, they are culpable. Now they are thinking of renaging on their agreements as well as their responsibilities... This is not the European way, so they should most definitely NOT be allowed to join the EU. Now they don't like "threats"? ...Tough luck. THEY are not the victims of their irresponsible activity.

By DAVID | July 22, 2009 4:53 PM

why on earth would anyone invest in Iceland anyway lol and yes Iceland do the right thing, many charities have lost money too, what was the type of investment if it was high risk then its tough luck but if it wasnt then pay out, boycott EVERYTHING from Iceland

By adhd | July 22, 2009 5:31 PM

We are not children, lets sit down and talk all this thru.
Iceland, we should want to have them in. They are a part of Europe and do and can make contributions in making Europe better as a Union.

By MBMordechai | July 22, 2009 5:45 PM

As a half Dutch-American and half Icelandic-American, I am in a unique position on this issue.

Tax dollars shouldn't have been used to bailout bank depositors. Let the free market be created, so people would be responsible. That is the way of Nature and a free society.

Iceland should not join the EU, and rather, retain it's fishing territory.

As far as what to do in this case, promises to the Dutch have been made.
These should be kept for the sake of orderly relations.

By Kevin | July 23, 2009 1:06 AM

If Iceland does not comply with the agreement it has freely adhered to when it was in trouble, it makes it abundantly clear that it will not be a trustworthy partner in the European Union. Does their word isn't worth nothing at all? Shame on you Icelanders!

By seo2007 | July 23, 2009 7:23 AM

I still wonder what possessed people to put money in an online bank in Iceland.. and no, I don't think there should be a bailout for common sense stupidity!

By Laura K. | July 23, 2009 12:14 PM

I can agree on parts of all the comments made. First why help bail out on a stupid choice made. Second only because a promise was made, it should be kept. With that should they join a Union when it seems they have a issue with keeping their word and following through?

By feithalean | July 23, 2009 8:01 PM

Dear all,

Some of the comments here are probably reflecting the ducth media, totally blind in anger how the "icelandic people" deard to robbe the dutch and the UK investors.
The Icelanders have no manners and is dishonest people, thats why ALL of them should pay. Send them a bill of Billions of euros even the about 250 thousand or so taxpayers will never in there lifetime be able to pay it back.

The icelanders (the people) did not gain any of this stupid Icesave bank.

I feel sorry for all those who did loose in this bank, but the fact is that the Icelandic economy and the people did also. The country that was maybe two years ago in the top 10 of the richest (..i never knew how they found that out) is now flat broken, frozen from the international community and even thanks to the UK was put on a list of Terrorist nations, unemployment is high intrest rate skyhigh and inflation high. So anyone can see that the bankcollapse has ruined much more than only the "naive" Icesave investors.

But of all my good experiance with the people i know from Holland and i envy how that small country is governed, i would not wish anyone to experiance a total bank and economic collapse like we did. No matter who is to blame..

with greetings from Iceland

By Stefan | July 24, 2009 3:24 PM

I think stefan's mail points out exactly how it is. There are no guarentee fonds for guarentee fonds, hence there is no support for foreign investments such as Holland and England for matters as with Icesave. I doubt if a Dutch bank did the same in a country like Holland and then have the dutch people accept a billion dollar claim from a bigger country such as USA. What people dont realise is that the local goverment in UK and Holland put billions of tax payers money in a risky online bank. This is where it hurts and has also been a political blow for the social democrats in Holland. If this was taken to court Iceland would win. But you need to governments two agree and the Dutch or English are to smart not to go this direction. If a fillial was created in UK and Holland (a matter not dealt with clearly in EU laws) the guarentee fonds in repsective countries would have taken the loss as normal business practise.

I am ashamed how the English and Dutch are behaving. And second, you need a referendum in Iceland before Iceland can join EU. And guess what, many Icelandics dont want to at all.

DOnt forget, that the governments in UK and Holland, social democrats are having the lowest ratings ever.

Iceland needs to 1. re-negogiate the deal 2. not enter EU and 3. re-organise Icelandic people who needs support to create some stable economy. With this latest deal, iceland will newer recover.

By Eric Roche | July 27, 2009 11:55 PM

Did anyone make threats or warn the Dutch about their debt and about all the assets they stole from the Jews, which took the Dutch authorities nearly 50 years to repay? Taking into account that the Dutch had fifty years to pay back what they had stolen from the 101.000 victims of the Dutch Holocaust, I find the Dutch enthusiasm in getting 300.000 innocent Icelanders to pay back for the mistakes of few corrupt bankers quite grotesque. How many Dutch died by the hands of the Icelandic bankers? Iceland should at least have 300 years to settle its accounts with the Dutch. Godverdomme nauwe gatjes!

By Aharon | March 6, 2010 4:05 PM