Iceland - The story continues....


Foreign creditors to take Iceland’s Arion Bank … ke-iceland’s-arion-bank/

Reykjavik dims lights, saves money … more-10680

Iceland’s economy shrinks further

Weak Icelandic krona benefiting tourists … more-10727

Iceland Economy Shrank 7.2 Last Quarter on Investment, Demand … S8cGgpoHp8

Everyone saw the Icelandic crash coming, except the Icelanders … more-10734

Iceland’s economy sees highest recession despite export increase … 614210.htm

Kaupthing men sentenced … more-10767

Central Bank of Iceland cuts key rate to ten percent … more-10792

Questions surround Central Bank of Iceland lending practices … more-10816

Iceland finalises Landsbanki recapitalisation deal

Kaupthing under investigation for fraud … for-fraud/

SFO launches investigation into collapse of Kaupthing … 43008.html

Refinancing of Iceland’s Landsbanki Completed … _id=355552

How much money is enough money to live in Iceland? … more-10925

Iceland Passes Milestone in Rebuilding Banking System … 1ulAhSGY0c

Iceland Just Isn’t Sovereign … _id=355635

Majority in Iceland want to reject Icesave bill … save-bill/

Iceland Lawmakers Threaten to Reject Icesave Bill a Second Time … 85sXUNswAw

Icesave passes into final debate session … more-11011


Closed captions (subtitles) are available on both videos:


Hey I liked Iceland. I used to be able to get those Linda Mccartney vegetarian rashers there




Sounds like me arse Jimmy, they’ve had a few chats and banged a few pots and pans.

Big whoop!


last line from the article in times


The last two lines were the most striking element of that article for me too. They may well be the worst two lines I have ever seen committed to print. Genetically originate? That wouldn’t pass muster for the Junior Cert, Foundation Level.

Are the sub-editors still hungover from the xmas party?


As far as I know it’s reasonably true though, in a tabloid sort of way - all them raids of comely maidens dancing at crossroads in the 8th-10th centuries resulted in most of the modern Icelandic population being, well, sort of half-Irish. As has been shown by genetic studies, apparently.

Close enough to the truth, for the Irish meeja, which is usually a million miles from it.


Oh, it’s true but it’s utterly trite.


It was in the Irish meeja, you expected what exactly?

#12 … ay-icesave

#13 … 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"


The only difference between Iceland and the US/UK and ourselves is that they are facing the matter of repayments head-on.
Hence they see the direct consequences of taking on so much (unnecessary) debt.

Everyone else has fudged the issue - but the effects are the same i.e. the taxpayer foots the bill.


Speaker: Ásgeir Jónsson, Chief Economist, Kaupthing Bank, Iceland, and author of “Why Iceland?”
Title: Did the media and the markets let down Iceland

Speaker: Ásgeir Jónsson and Poul Nyrup Rasmussen
Title: Q & A section

Speaker: Poul Nyrup Rasmussen, President of the Party of European Socialists, former Prime Minister of Denmark
Title: Financial regulation in the wake of the 2008 credit crisis


Serious outbreak of warts in Iceland… health services breaking down?


Iceland’s president has announced plans to hold a referendum on the payment of compensation resulting from the collapse of the country’s banks.

President Olafur Ragnar Grimmson said he would not sign a controversial bill to repay $5bn lost by savers from the UK and the Netherlands.

The government has come under considerable pressure from Icelanders unhappy with the compensation plans.

Iceland’s banking system collapsed in 2008.

#18 … R820100105

President Olafur Grimsson says…

“It has steadily become more apparent that the people must be convinced that they themselves determine the future course,” Grimsson told a news conference.

“The involvement of the whole nation in the final decision is therefore the prerequisite for a successful solution, reconciliation and recovery.”

We need a president like that. Cowen, Hanifin, Linihan are all a shower of f…wits in the control of the bondholders.

#19 … president/

(Courtesy of Eoin at IrishEconomy).


All for $5bn dollars?

We let what was it, 400 people decide on an initial €55bn… :stuck_out_tongue:

EDIT: Topics merged…