When the television and news revealed that the public of Iceland would be given a referendum to decide whether Britain would be repaid the money, I took the outcome of that decision as a foregone conclusion.
And surprise, surprise the people said no.
But their assets are still frozen by UK Anti terrorism Laws.
It appears that our country has decided that simply invading countries and enforcing "democracy" with all the zeal of the Roman slaughters BC is a waste of money.
Our government would rather draft all encompassing, detrimental legislation and use it to control from a far.
In the flux of a global financial crisis, the economy of Iceland is in serious trouble, with contractions around 7.7 percent last year and is expected to shrink again in 2010.
Due to the "Mareva Injunction" intended to prevent people from losing the cash when they have a claim lodged against them, seems a little ludicrously applied here.
One can only imagine Lord Denning's opinion from beyond the grave, at the abject use of his renegade common law to keep a country in a recession.
Iceland is a country of just 320,000 people hoping to join the European Union, but with a shattered economy, the injunction can only further damage their livelihoods and prolong their financial difficulties. Further details are identified by the Financial Times.
There is something rather amoral about using any legislation to control an entire country's economy when our own government is not going to be taking the debts incurred by our own banks back.
And it leaves a nasty taste in the mouth when it is anti-terror legislation.
As that great resource Wikipedia states "the term "terrorism" is politically and emotionally charged.
Wikipedia goes on to say;
"As Bruce Hoffman has noted: "terrorism is a pejorative term. It is a word with intrinsically negative connotations that is generally applied to one's enemies and opponents, or to those with whom one disagrees and would otherwise prefer to ignore""
Yet it seems the only thing terrorist about the legislation used to freeze Icelandic accounts is the country implementing that legislation.