Iceland won a landmark court case on Monday over its refusal to cover the losses of British and Dutch depositors who lost money in Icesave, a failed Icelandic bank.
"In a recent interview with British television, Iceland’s president, Olafur Ragnar Grimsson, denounced Britain’s “eternal shame’” for invoking the terrorism laws. ‘”We were there together with Al Qaeda and the Taliban on that list,” he said. “We have not forgotten that in Iceland
"Unlike Ireland, which also experienced a catastrophic bank failure, Iceland declined to use taxpayer money to bail out foreign bondholders and depositors. This set off a bitter dispute with Britain, which used antiterrorism rules to take control of assets held in Britain by Icesave’s parent, Landsbanki."