Iceland borrowed billions of Euros from the UK and the Netherlands to bail their national bank out.
Now the president of Iceland refuses to pay either country back.
Reason? Because a referendum of the people concluded that the Icelandic population wasn't happy about the decision to borrow the money, and doesn't think that they should have to pay back the debt when it was a private company that got them into this disaster and hence wash their hands of the responsibility.
That's like saying; " Dude, I'm not paying you back the 10 euros you lent me for lunch because I bought lunch for my cousin with it, and he says that he shouldn't have to pay back my debt and I didn't actually get to eat the lunch, so I'm not paying you back either. "
What the? What sort of ludicrous decision is that? They're good enough to take the money, but can't be bothered paying it back. Is the president of Iceland 12 years old? A bold move to make, to anger 2 key players in the EU, when you want to be part of the EU I think.
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