called IceSave, and it was owed to the people of the UK who put their money in it. The key word is private. The people of Iceland had nothing to do with this, so to expect the people to pay it and hold their debt -- THAT would be the morally wrong practice!
This same thinking is what has OUR people financially screwed! Let the bank fail. The people who invested in that bank from oversees will lose, and that's sad, but thats the free market. Insuring those investments and now needing to pay is the UK's problem, not the citizens of Iceland.
Cheers to Iceland.
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