Iceland's president respects the will of the people

The Icelandic daily Fréttablaðið partly defends the decision of President Ólafur Ragnar Grímsson to let the people have the final say on the compensation law for foreign savers who deposited their money with Icelandic bank Icesave: "He has drawn harsh criticism, some of it justified, some of it undeserved. But not just the president is responsible for this turn of affairs in the Icesave issue. In allowing the people to make the decision he is reacting to thousands upon thousands of Icelanders who put their signature to the civil initiative 'InDefence', and also thirty MPs who supported the decision to hold a referendum. They all bear the responsibility along with the president for intervention in the international dispute over Icesave. The president had already announced two years ago that he would consult the people rather than acting alone."

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