Iceland's referendum

The Republic's first national referendum

Today, Iceland held its first national referendum since the republic was voted in 66 years ago. As I write this, an hour before voting closes, the Nays have it by about 80% or so. Nay is exactly how an Icelander says no, so you see how democratic we are. I said Yes.
Why did the Icelanders say Nay with such an overwhelming majority? Dagur Sigurðarson, the poet and painter, told me a story from the war one time. Two Finns had gone to Berlin on business. This was early on in the war, some time after the invasion of the Soviet Union. The Finns want to have a good time but the only thing they can find is some Russian vodka, so they settle down for some serious drinking and get properly smashed. That night after the Finns have gone to sleep, the first big air attack on Berlin destroys most of the neighbourhood, but miraculously leaves the hotel they stay in intact. In  the morning, the first Finn wakes up and has a look out the window. He wakes up the other one and tells him, we can never pay for all of this.
This is how many Icelanders have felt about the Icesave affair. They simply see this as something for which they have no responsibility and do not intend to pay. I see the matter a bit more complicated than that. I surely had nothing to do with setting up any Icesave accounts and have no personal legal obligation. Collective responsibility is another thing and I don't think Iceland would get very far if all nations would have left account holders penniless in the big crunch of 2008. I believe Iceland actually has a vested interest in the European (yes that includes the UK) economy. Over half of our exports go to Europe and more than half of our imports come from there. This is how it's been for the last 100 years. If we were to give UK and the Netherlands the economic finger, more will follow. My reason for voting Yes is that I want to show an interest in getting a result in the matter. I believe we will have to try and get the payments renegotiated at a later stage.
Iceland is in dire need of capital in the next couple of years and we cannot act as if we are an island, even if we are one.