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Icelandic People Exercise Their Power Found Within the Democratic Renaissance

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Old 10th April 2011, 21:18
The Philosopher The Philosopher is offline
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Icelandic People Exercise Their Power Found Within the Democratic Renaissance

"Icelandic voters reject Icesave debt repayment plan"
-see article below.

As the world continues to adjust to the “New Normal” in the aftermath of the Great Economic Collapse, Iceland and the people who inhabit that tiny island are slowly becoming the most democratic country in the Western world.

With the referendum today on the future of Icesave and with a Citizens Constitutional Council appointed to carry out Constitutional change, the people of Iceland are gaining more and more control over their own lives and the natural destiny of their country.

It must be remembered, with every referendum or reform that is implemented, it is one more brick that is removed from the wall that the elite of the Western world have built to keep the reins of power out of the hands of the common man and woman.

-The Peasant Philosopher


Icelandic voters reject Icesave debt repayment plan
Prime minister says the 'worst option was chosen' after 60% of voters in referendum oppose £3bn repayment

Agencies in Reykjavik
Sunday April 10,2011/Guardian

Icelanders have rejected the latest government-approved plan to repay the £3bn owed to Britain and the Netherlands from the crash of the country's banking system in 2008, prompting the prime minister to warn of economic and political chaos.

Final results from five of six constituencies, including the capital, Reykjavik, showed the "no" side taking nearly 60% of the vote, meaning the dispute is likely to end up in a European court.

"The worst option was chosen," said the prime minister, Jóhanna Sigurðardóttir. "The vote has split the nation in two. We must do all we can to prevent political and economic chaos as a result of this outcome."

The debt was incurred when Britain and the Netherlands compensated their nationals who lost savings in online Icesave accounts owned by Landsbanki, one of three Icelandic banks that collapsed in late 2008.

Icelandic politicians in February backed a repayment plan agreed with creditors, but the president refused to sign the bill, triggering the vote. In March last year, Iceland rejected an earlier Icesave repayment blueprint in a referendum.

Economists say uncertainty over the payback deal is hurting efforts to drag Iceland out of recession, end currency controls and boost investment. Many voters cited opposition to taxpayers footing the bill for irresponsible bankers as their reason for voting against the plan.

"I know this will probably hurt us internationally, but it is worth taking a stance," said Thorgerdun Ásgeirsdóttir, a 28-year-old barista, after casting a "no" vote.

Svanhvit Ingibergs, 33, who works at a rest home, said: "I had no part in causing those debts, and I don't want our children to risk having to pay them. It would be better to settle this in a court."

Sigurðardóttir said Iceland would now defend its case before the court of the European trade body overseeing Iceland's co-operation with the EU, the Efta Surveillance Authority (ESA). Economists have said this route could be much costlier.

Iceland is still pulling itself out of a deep recession. Politicians and economists believe solving the Icesave issue would help the country get back into international financial markets. Getting such funding is also part of a plan to end the controls on capital flows it imposed in 2008 to stabilise a tumbling currency.

The controls have left an estimated equivalent to a quarter of Iceland's gross domestic product in the hands of foreign investors, many of whom are expected to want to pull out. Ratings agencies will have followed the vote closely, with Moody's having said it may lower its credit rating on Iceland after a "no" vote.
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Old 11th April 2011, 00:16
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hundreds of quote but no much reason


capitalism and consumerism doesnt work in the long run...so where is he answer?
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Old 11th April 2011, 08:36
Duthill Duthill is offline
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And where is the definition of 'democratic renaissance ' ?

The poster has been asked in that past , to provide an explanation of that phrase , in relation to this campaign ,
but has yet to do so .
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Old 13th April 2011, 15:35
The Philosopher The Philosopher is offline
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Quote:
Originally Posted by tig View Post
hundreds of quote but no much reason


capitalism and consumerism doesnt work in the long run...so where is he answer?
I think the point you make about capitalism and consumerism is very important.

I think the reason you see these two ideas failing (but in the end everything we do as a species ends), hinges upon a fundamental problem about how ideas are not allowed to evolve when reality and human progress moves forward.

In essence, when we create things like capitalism, communism, representational democracy, etc...The idea is never expanded to encompass the natural evolution that one witnesses in the practical application of the idea in the real world.

Over time, capitalism is no longer capitalism (today it has more to do with making money and less to do with products and markets). Thus the failing is a natural progression of evolution.

The trick is to recognise this evolutionary process and create additional definitions and ideas that encompass and capture the spirit of the original idea.

-The Peasant Philosopher
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Old 14th April 2011, 02:27
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i know where the answer is...the people wouldnt like it


but they wouldnt have a choice
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