Iceland’s President Supports Democracy, not Banks

Iceland’s President Explains Why The World Needs To Rethink Its Addiction To Finance                   Adam Taylor     | Apr. 15, 2012, 12:57 PM |    Business Insider

This links to the full transcript of an interview with Ólafur Ragnar Grímsson, who has been President of Iceland since 1996, and announced last month he would be running for a fifth term. This is a phenomenal account of a President’s integrity, clear thinking and courage. The following is a short excerpt but the full four-page article is well worth reading for an inspiring example of what’s possible and an insightful account of what’s happening instead.

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But once I had analyzed every aspect of it, it boiled to the fundamental choice of the interest of the financial market on one hand, and the democratic will of the people on the other, and rarely in history — but it does happen — do we come to such crossroads that we are forced to choose.

And my answer was clearly, not only with respect to the democratic structure of Iceland, but also with respect to Europe’s contribution to the world. What is our primary legacy to countries and nations in modern times? Is the European democracy the right of the people? Capitalistic financial markets can exist in many other parts of the world, even without democracy. So in my opinion, Europe is and should be more about democracy than about financial markets. Based with this choice, it was in the end, clear that I had to choose democracy.

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Read more: Business Insider: Iceland’s President

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