http://www.ft.com/cms/s/0/739ddb22-f705 ... ck_check=1
"Many Icelanders are furious that they are being asked to foot the bill for the mistakes of their country’s bankers and regulators and say the hefty repayments, amounting to €12,000 per citizen and nearly half of gross domestic product, will undermine recovery.
Presidential approval is usually a rubber stamp process in Iceland’s parliamentary system. But Mr Grímsson said he needed time to carefully consider the legislation given the breadth of public opposition. Only once since the island nation gained independence in 1944 has the president vetoed a bill.
If Mr Grímsson refuses to sign, the government would face a choice of either dropping the bill or putting it to a national referendum"