Icesave vote a threat to global finance?

The people of Iceland face the prospect of a referendum on the deal their government cut with the UK and the Netherlands in the wake of the Icesave collapse. Even though the deal is out of date. More favourable repayment terms have already been offered than those in the bill that may or may not be put to the ballot.

Many commentators think it could constitute a threat to the entire global financial system if people are allowed to vote their way out of massive debt.

A notice hang...