93% of voters chose NO in the referendum to validate or reject the bill that approved massive payments to foreign investors for debts acquired by a private bank, Icesavings, now nationalized after going bankrupt.
The Parliament had approved the bill agreeing to pay 5 billion dollars in exchange for a loan of 10 billions and support for an entrance into EU that Icelanders do not seem to desire anymore. However the President of the small republic, in a rare show of politic honesty of the kind you seldom see anymore in this rotten old Europe, vetoed the bill and demanded a referendum that has finally ended in a total defeat for the government. I commented on this neocolonialist abuse in a previous post.
Source: Rebelión, BBC, etc.