40133
2009-10
554
Icelandic Debt And Accountability Of Bankers
Austin Mitchell
2010-01-07
That this House sympathises that the decision of the Icelandic President to refer his Government's proposals to pay the large sums owing to the British and Dutch governments for compensation paid out to their citizens saving with Icesave is sensible, fair, and democratic in the light of the fact that both Icelandic citizens, and British citizens, were not consulted by their bankers about the irresponsible risk their banks were running and the enormous debts that resulted and should have a right to say whether these debts should be foisted on the people; considers that though the British Government has paid massive compensation to its own irresponsible bankers, it is hardly reasonable to expect a more intimate and direct democracy to ask its people to shoulder bigger debts without their consent; and suggests that rather than threatening Iceland the Government should accept that mistakes were made by British regulatory authorities as well as Icelandic regulators; and therefore considers that the Government should negotiate a revised deal with Iceland and come to sensible arrangements for sharing the burden, rather than imposing the whole of it on a nation whose economic health is in the UK's interests, and which therefore should not be crushed by an unsupportable burden of debt.
Europe
Financial institutions
International politics and government
Austin Mitchell
2010-01-07
Proposed
Great Grimsby
Labour
Nick Harvey
2010-01-11
Seconded
North Devon
Liberal Democrat
Jeremy Corbyn
2010-01-11
Seconded
Islington North
Labour
Kelvin Hopkins
2010-01-12
Seconded
Luton North
Labour
Colin Burgon
2010-01-12
Seconded
Elmet
Labour
Alan Simpson
2010-01-12
Seconded
Nottingham South
Labour
John McDonnell
2010-01-12
Signed
Hayes and Harlington
Labour
Ronnie Campbell
2010-01-13
Signed
Blyth Valley
Labour
Dai Davies
2010-01-13
Signed
Blaenau Gwent
Independent
Andrew Stunell
2010-01-25
Signed
Hazel Grove
Liberal Democrat
Michael Clapham
2010-01-27
Signed
Barnsley West and Penistone
Labour