Tag Archives: iceland

With Its Economy on the Mend, Iceland Stuffs Bankers for Second Time

By Tyler Durden
Zero Hedge

In a shining example of how it can be done, Iceland, for the second time in as many years, by popular vote refused to provide up to $5 billion to Britain and Netherlands banks. The just completed referendum once again rejected a $5 billion Icesave debt deal, pushed on Iceland by its European banking brethren.

“The debt was incurred when Britain and the Netherlands compensated their nationals who lost savings in online ‘Icesave’ accounts owned by Landsbanki, one of three Icelandic banks that collapsed in late 2008.” And while Iceland PM Johanna Sigurdardottir did a brief Mutual Assured Destruction tour claiming “economic and political chaos could follow,” we can’t help but think we are witnessing the early stages of Europe’s most flourishing economy over the next decade, while all other countries in Europe fail one after another due to their inability, unwillingness and cowardice to force bankers to experience, gasp, losses for fear of “reprisals.”

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Iceland Proves Ireland Did `Wrong Things’ Sacrificing Taxpayers

By Yalman Onaran
Bloomberg

Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors of the country’s banks, writes Yalman Onaran.

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Media Matters: Iceland a Port of Refuge

By Tesha Miller
Seismologik

Julian Assange’s creation of Wikileaks and its subsequent release of hundreds of thousands of classified US War and Diplomatic documents has become one of the most controversial journalistic undertakings of the day. The release of this sensitive material has spurned a global debate about the role of journalism in contemporary times and what level of information is appropriate for individual consumption. The amount of knowledge that the public has on national and international affairs depends directly upon the legislative outcomes to these new information challenges and ultimately, how we decide to protect journalists, whistleblowers and news media organizations.

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Banksters – not potatoes – drive Irish to emigrate

One in three Irish young adults plan to emigrate… Shocking survey shows emigration rampant
By Donal Driscoll
Irish Central


Over 65,000 Irish have already emigrated

One in three Irish people aged between 18 and 24 are planning to emigrate in the next 12 months, new figures show.

Emigration levels are set to accelerate next year with one in ten people saying they intend to leave Ireland according to the results of an Irish Examiner opinion poll.

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Icelanders egg PM as global protests condemn corruption, banksters

By Rady Ananda

As proceedings begin against Iceland’s former Prime Minister, Geir Haarde, for the banking crisis of 2008, at least two thousand Icelanders took to the streets in two days of protest this weekend.  Iceland joins over a dozen other nations protesting economic measures taken out on the public while banks and large corporations receive bailouts. Class war is on, and it’s gone global.

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