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Icelanders forced their entire government to resign after a banking fraud scandal, overthrowing the ruling party and creating a citizen’s group tasked with writing a new constitution that offered a solution to prevent corporate greed from destroying the country. The constitution of Iceland was scrapped and is being rewritten by private citizens; using a crowd-sourcing technique via social media channels such as Facebook and Twitter. These events have been going on since 2008, yet there’s been no word from the U.S. mainstream media about any of them. In fact, all of the events that unfolded were recorded by international journalists, overseas news bureaus, citizen journalists and bloggers. This has created current accusations of an intentional cover up of the story by mainstream U.S. news sources.
Just to be clear, this headline is highly misleading. The "overthrow" happened back in 2008; the rewrite of the constitution never eventuated and Iceland never joined the EU. In fact, Iceland has since had yet another election and voted out the left-wing parties and replaced them with right-wing parties again, who immediately removed anything to do with rewriting the constitution, including socialising natural resources, cancelled talks with the EU, and put the country almost exactly back in the same political position it was pre-economic collapse.
Pressure from Icelandic citizens’ has managed not only to bring down a government, but also begin the drafting of a new constitution (in process) and is seeking to put in jail those bankers responsible for the financial crisis in the country. As the saying goes, if you ask for things politely it is much easier to get them.
This quiet revolutionary process has its origins in 2008 when the Icelandic government decided to nationalise the three largest banks, Landsbanki, Kaupthing and Glitnir, whose clients were mainly British, and North and South American.
After the State took over, the official currency (krona) plummeted and the stock market suspended its activity after a 76% collapse. Iceland was becoming bankrupt and to save the situation, the International Monetary Fund (IMF) injected U.S. $ 2,100 million and the Nordic countries helped with another 2,500 million.
story from Business Insider
July 12, 2012
The gentleman's name is Ólafur Þór (Thor) Hauksson. He is an ex police lieutenant hired by the government of Iceland to investigate all who were involved in the banking scandals and financial collapse there.
Apparently he was hired several years ago, and so far has actually netted some convictions !!
He has a "posse" of 100 the story says !!
Interesting article ..........