A Third and Final Offer to Iceland

Following my two earlier offers (24/10/2008, 19/10/2009) for Iceland to become a debt-free province of Canada, comes the January 6, 2010 news the nation is unable to repay a$5.7 billion debt. The problem stems from the collapse of a privately owned bank. The island economy is in such dire straits that MacDonald's has left the island. (Of course, that may have been as a result of improved Icelandic taste.)

Iceland's parliament last month voted to pay off the debt. President Olafur Ragnar Grimsson vetoed the legislation after receiving a petition from a quarter of the population not to pay it. "The people are the supreme judge," the he said. A presidential veto automatically triggers a national referendum.

The referendum should also assess national feeling toward joining Canada.