The latest news from Iceland, as reported in the Guardian today:
Olafur Grimsson threw the long-running issue into fresh uncertainty today when he declared that a national referendum must be held to determine whether or not the legislation is passed.
This is thought to be only the second occasion when the president of Iceland has refused to ratify a bill passed by the country’s parliament. Grimsson took the decision after hearing the depth of public anger in Iceland against the bill, which was narrowly approved by MPs on 30 December.
“The cornerstone of Iceland’s constitution is that the nation is the highest judge for the validity of law,” said Grimsson. “Now the nation has the power and the responsibility in its hands.”
At last! A political leader that sides with the people, not the bankers.