Don't get me wrong, Iceland is an amazing place. The people are great too, and the quality of life there is amazing. It is a unique and pristine place in the world. But, they do owe some money to the United Kingdom and the Netherlands for the collapse of Landsbanki.
Yes, I think that Iceland owes money to the United Kingdom and the Netherlands for the collapse of the Landsbanki, because it was those countries that came to the aid of Iceland. When Iceland got help from the other nations, it owed them a debt of gratitude. They should pay the money back, so they are even.
Iceland does not owe money to the United Kingdom and The Netherlands for the collapse of Landsbanki. Investments are always risks and these countries took risks with their investment in this bank. The collapse of it was one of hundreds of banks throughout the world. Iceland cannot pay loans back in addition because there is simply not enough money to do so.
No, i do not think that they need to pay these other two countries any money at all, since they did not do anything to them just because this collapsed. They did not make it collapse, and did not mean for all of the things to happen that did happen.
The Icesave ruling indicates that Iceland does not owe money to the United Kingdom or the Netherlands due to the collapse of Landsbanki. Since this ruling is official I see no reason in arguing that they do because they funds will never be provided. Once a ruling is made it shouldn't be turned over.