In your interest.
Online Personal Finance Magazine
No beating about the bush.
Icelanders have rejected by a massive majority a Bill that would have saddled each citizen with $16,400 of debt in protest at UK and Dutch demands that they cover losses triggered by the failure of a private bank. This has left Iceland’s IMF-led loan in limbo and prompted Fitch Ratings to cut its credit grade to junk. Moody’s Investors Service and Standard & Poor’s have signalled they may follow suit if no settlement is reached.