Eva Joly Sticks up for Iceland Skip to content

Eva Joly Sticks up for Iceland

Norwegian-French magistrate Eva Joly, advisor to the special prosecutor’s office in Iceland—which is responsible for investigating the banking collapse—condemned the conduct of British authorities in the Icesave dispute in an article published simultaneously in Iceland’s Morgunbladid, Norway’s Aftenposten, Britain’s Daily Telegraph and France’s Le Monde last weekend.

Photo by Páll Stefánsson.

“British Prime Minister Gordon Brown is wrong when he says that he and his government have no responsibility in the [Icesave] matter. First, he has a moral responsibility, having been one of the main proponents of this model which we can now see has gone up the spout. Second, he cannot say that the UK had neither the means nor the legitimacy to supervise Icesave’s activities,” Joly writes.

“Of course, the Icelandic institutions have much responsibility. But does that necessarily mean that the responsibility of the British authorities should be overlooked, dumping it all on the Icelandic people alone?” she asks.

“Iceland, whose only remaining source of income is its exports, will certainly not be able to pay off those debts,” Joly predicts, concluding:

“In the end, neither the IMF, nor England or the Netherlands will be able to be reimbursed. Just a few tens of thousands of retired fishermen will be left in Iceland, along with its natural resources and a key geostrategic position at the mercy of the highest bidder – Russia, for example, might well find it attractive.”

Click here to read the article in full in The Daily Telegraph.

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