National referendum

Today the first national referendum takes place in the republic of Iceland, the first national referendum since indepentent republic was established in 1944 as a result of a national referendum in which 98.4% of the voters participated in. One quarter of the century earlier 43.8% of the voters participated in a national referendum which resulted in foundation of a Sovereign state in union with Denmark.

The issue:

Act no. 1/2010 stipulates the modification of Act no. 96/2009 which authorises the Minister of Finance, on behalf of the Treasury, to guarantee a loan to the Depositors' and Investors' Guarantee Fund from the states of Britain and the Netherlands to reimburse for payments made to depositors of the Landsbanki Íslands hf. The Althing passed the Act no. 1/2010 but the president vetoed it. Should the Act remain in force?

Options:

Yes, it should remain in force
No, it should not remain in force

I can hardly say that there has been any campaign in the previous days, therefore I think it is wrong to expect high voters’ turnout. The leaders of the Government have both stated that they will not participate in the referendum, their followers have been promoting the possibility of not participate. Tyranny of fear seems to continue operating as misleading information continue to occupy news in the media.

Weather British, Dutch and Icelandic representatives choose to negotiate from starting point or by modifying previous agreements; Icelanders have the right to decline current Act no 1/2010. Never the less, the government dissuades the public from participating in the national referendum e.g. by claiming the referendum meaningless.

As of this afternoon the tendency is indicating that the total turnout might be around 47-55% - that would be low, in 2004 presidential elections only 62.9% participated, 10% less than in the 1988 presidential elections.

Those who participate in the referendum are primarily saying that the modification in act no 1/2010 does not have their support; the voters are not swearing British or Dutch authorities with big words. We might hear explanations tomorrow or later tonight that the voters are asking for the government to reconsider and start to evaluate interests of the Icelandic people, rather than their own pride. The rage, the despair following the collapse of the banks gave certain politician opportunity to form a government that gave the people hopes for new times with new methods, hopes that are about to evaporate.