Thank you for your detailed account. I am curious about the following: The consensus in Iceland was and is that the Icesave debt should be repaid (if only for

Thank you for your detailed account. I am curious about the following: The consensus in Iceland was and is that the Icesave debt should be repaid (if only for moral reasons) - but only on fair terms and according to EU legislation. What currencies are these debts denominated in? Is there a plan to convert them to ISK, if they are not already denominated in that currency? The reason I am asking is that Modern Monetary Theory tells us that it is very unwise for a government to take foreign-currency denominated debts. It creates the danger that, should exports drop for some reason, the nation's exports are no longer sufficient to offset the flow of payments servicing the debt, which can cause severe depreciation of the currency causing inflation. In fact, most of the horror stories of failed economies and hyperinflation involve foreign-currency denominated debt, usually together with some other factor. This includes the turn-of-the-century crisis in Argentina, and the Weimar Germany and Zimbabwe hyperinflations. Just something to think about. Oh, and... A couple of thousand people gather outside the parliament building for a few days to make noise and listen to speeches. If you scale that up to e.g. the US, it would be like a couple of million people going to Washington. Nothing to sneeze at ;)