This Is The Song That Does Not End

So today, Dutch financial smart guy Bert Heemskerk told reporters in Holland that they ought to forget about getting all their money back from Icesave.

As I typed this up, I heaved a sigh. You see, unlike most people who just had to hear every armchair economist in the country talk on and on about Icesave, I also had to read news about Icesave and then translate news about Icesave for like, a year or something. I don't know, it's all kind of a blur.

The last I'd heard, the president killed the law that was passed, a public referendum killed it further, and so the government pretty much said, "Welp, guess we better wait until elections in the UK and Holland." And then that was that.

I guess I was hoping we could all just forget about this and then get on with our lives, but apparently, some people get upset when their life savings and pension funds disappear overnight with little hope of seeing that money again.

You might've noticed there are two sides to this. On the one hand, you have people saying that Iceland is bound by international commerce and finance laws within the European Economic Area that compel us to cover a certain amount of those deposits. On the other hand, you have people asking why taxpayers should be covering the losses incurred by bank managers who are all currently walking free and livin' large.

Here's what will actually happen: Icesave negotiations are going to drag on for so long that eventually the UK and Holland are going to accept some sort of partial payment plan that will be like a thin, slow trickle from Iceland's treasury.

Ideally, every bank manager in Iceland should have their assets frozen and sold off, and the proceeds from that should be then given to all the Icesave depositors, but no one invited me to the negotiations table. I'm just one man, people.