Iceland - The story continues....

Iceland president forces new Icesave referendum → … NU20110220 … 31854.html

To think the best news we have is that we did not trough as bad as Iceland is depressing to say the least. The smug dipshits who put the bank guarantee in place were only too sure we would come through the global crisis better than Germany, that we knew best, that Ireland was indeed different. 2 1/2 years later and the best we have is that we are just behind Iceland, a country which got run over by the global financial markets having bet the family silver on speculation and laisse faire international banking as a foundation for the economy.
Sadder still is that Iceland has a much better chance of recovering in the medium term, will avoid loading at least some liabilities onto future generations, and has at least stood up and taken responsibility as a nation and as citizens of that nation. Ireland is still pissing around with the idea that recovery will be handed to it on a plate, still living in denial, and still refusing to take any responsibility.
Sad indeed!!! :blush:

[mod edit: back on topic]

Dan O’Brien - Week 2 of 2 … 34892.html

Deep Freeze Iceland’s Economic Collapse - Philipp Bagus, David Howden → … 42880.html … thing-bank … -kaupthing … -show.html … l-suicide/ … 8Q20110409

Good on them. If that was us, adjusted pro rata for population, that would be 65-70 billion.

I take it that if they vote it down, their entry to the EU is barred?

UK would object probably - but there’s a huge discussion within Iceland about whether joining the EU is a good thing or a bad thing - so having the decision taken off the table would suit the anti-EU brigade. … therlands/

If they take it down then they win on multiple fronts.
#1. Not having the public be paying for the mistakes of a radical bank.
#2. If they are not entering into the EU (at least formally!) then they will do better by the continual gifts that they will be receiving from the EU and the US through the special arrangements that they have in place.
#3. It will be a psychological kick in the teeth to the elites. … -banksters

I’m somewhat reminded however that this is all a bit like the Lisbon shenanigan.
If the elites don’t like your vote then you will be subjected to the carrot and stick fear factor treatment.
They the lemmings will turn.

At least we have lemmings in this country who turned all too easily!

Let’s see if these mini-Vikings still have some red blood in their veins.

Time for a bit of ice cool “No” on the double here to kick them corporatist facists in the teeth.

Michael Hudson takes a Europe wide review of the Icelandic vote:- … l-suicide/