The big debate in Iceland these days is whether the legislature should approve an agreement with Great Britain and the Netherlands requiring the Icelandic government to repay losses incurred by the citizens of those countries resulting from the failure of Landsbanki's IceSave accounts. The stakes are high, and various commentators speculate that the ruling coalition will fall if the agreement is not ratified.
It is, however, time to step back and look at matters in a rational manner.
As matters stand, we're...
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