It will be little surprise that Iceland's voters overwhelmingly rejected a plan that would have made each of them liable to repay thousands of dollars to the British and Dutch governments for compensation they paid out to investors who lost money when Iceland's banks collapsed in 2008 following the global financial crisis.
Quite apart from not seeing why they should bear the consequences of the actions of a few greedy people, Icelanders are naturally pissed off that Britain invoked anti-terrorist legislation following the collapse to freeze Icelandic funds held in London. Since Iceland is Britain's NATO ally and one of the most peaceful countries on Earth, how could such a thing happen?
My own theory is that it was all a misunderstanding. A report from Britain's Environment Ministry landed on Gordon Brown's desk saying that Iceland was a threat to whales (which it is one of the few nations still hunting). Owing to an unfortunate typo, Brown glanced at it and took it to be an intelligence report saying that Iceland was a threat to Wales. Naturally he had to take action.
Of course, another possible explanation could be that Gordon Brown is an unprincipled opportunist willing to bend the law to get what he wants. But no one would believe that of a British Prime Minister, would they?