First they give us Bjork, and now they give us the promise of freedom from the bankers. I love Iceland!
Now, all Icelanders are as hot as Bjork!
Sorry, dude, but you know what I heard? It is the banks, who own the media, who control our governments, fault.
The day I start hearing someone not blaming someone else, I will give all my money to that person to get them elected. The day a country and it citizens takes its share of the blame for the mess it is in, I will apply in become a citizen.
This issue has nothing to do with the people of Iceland though- and the debt was not created by their government. In Iceland’s case, there is no justification to put the people into generations of debt slavery.
There were a couple of international investment banks setup there that created this mess- the vast majority of their customers were not Icelandic, but from the UK and Netherlands. The banks were over leveraged and collapsed.
When this happened, the impact crushed their economy and killed their national currency. This had a devastating impact on the Icelandic people.
It’s true their government could have been more careful with their banking regulations. That said, besides the bankers, there was nobody in Iceland who had the knowledge to understand the risks of the people bank’s activities. So, if ever there was a justifiable case for a country to default on their debt, it’s Iceland. It would have been wholly unfair to force them to pay…
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