"In light of the bullying they have faced, Icelanders may be best off signing the deal, however unsatisfactory. But their indomitability usefully forces three inconvenient truths out into the open. First, who shoulders the losses of banks is a political choice that cannot be made without public approval. Second, the European Commission is right to want better-funded deposit insurance – but its funding target of 1.5 per cent of deposits is timid given that Iceland’s scheme levied 1 per cent. Third, the tools to deal with failed cross-border banks are still lacking. If only for highlighting these dangers, Iceland deserves better than what it got."Financial Times i en ledare om Icesave-tvisten - läs mer här.
