The final debate on the Icesave bill began today at 10:00 Icelandic time, at the conclusion of which the final vote will be taken.
The bill has been a long time coming to the floor of parliament for the last time, having narrowly escaped defeat just two weeks ago before returning to the Finance Committee for more fine tuning. It is expected that the bill will ultimately pass, even if the margin may be as narrow as by one vote.
The final debate, it should be noted, can take as long as a few minute to a few days, depending on numerous factors. It will, however, be broadcast live from RÚV. You can also watch it online at parliament’s website, here. If parliament’s website loads too slowly for you (as it often does), you can also watch the debate on RÚV’s site, here.
Even if the bill does pass, the pressure will be on the president of Iceland – an online petition from InDefence urging the president to veto the bill has garnered 35,000 signatures; over 10% of the nation. In two separate surveys, 70% of Icelanders are against the bill’s passage.
While opponents of the Icesave bill say it should be bank managers and not Icelandic taxpayers who repay former Icesave depositors, supporters note that the consequences of refusing to pay could prove even more dire for Iceland than paying it.