Posted by seumasach on January 6, 2010
Notsilvia Night
5th January, 2010
Icelanders say:
No to Ice-save – No to Ice-slave
The Icelandic President Olafur Ragnar Grimson refused to sign the Ice-save bill, which would have obligated the Icelandic tax-payer to pay unconditionally for the debts of the Ice-save division of Landsbanki, a private bank, which had collapsed in 2008. A large percentage of the Icelandic people had signed a petition for the president not to sign the bill and the president listened.
Posted in Revolution in Iceland | Tagged: Revolution in Iceland | Leave a Comment »
Posted by smeddum on October 27, 2009
McDonald’s pulls out of Iceland
27/10/09
McDonald’s is seen as a part of most developed economies
McDonald’s is to close its business in Iceland because the country’s financial crisis has made it too expensive to operate its franchise. Read the rest of this entry »
Posted in Financial crisis, Revolution in Iceland | Tagged: bankrupt iceland, Revolution in Iceland | Leave a Comment »
Posted by smeddum on October 12, 2009
Iceland Shrinks 8% as Prices Increase 11% in Deepest Recession
By Chad Thomas and Omar Valdimarsson
Oct. 12 (Bloomberg) — Arni Hallgrimsson lost his job as a public relations consultant when Iceland’s three biggest banks collapsed last year, putting him out of work for the first time since 1980. After a stint cleaning the docks at a whaling station during the summer hunt, he’s unemployed again. Read the rest of this entry »
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Posted by seumasach on October 8, 2009
Posted in Revolution in Iceland | Tagged: bankrupt iceland, Birgitta Jónsdóttir, financial collapse, financial fraud, Revolution in Iceland | Leave a Comment »
Posted by seumasach on October 7, 2009
7th October, 2009
It appears as if a cross-political majority is forming in the Icelandic parliament, Althingi, on reconsidering Iceland’s relations with the International Monetary Fund (IMF). Chairman of the Independence Party Bjarni Benediktsson doubts that it is in Iceland’s best interest to accept further loans.
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Posted by seumasach on October 1, 2009
30th September, 2009
Big news today: our Minister of Health Ögmundur Jónasson has resigned over the Icesave issue. Apparently the pressure is on to make everyone in government walk in step concerning Icesave – and he’s just not behaving. So instead of being pressured into going against his own convictions he’s decided to bow out.
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Posted by seumasach on September 20, 2009
18th September, 2009
Icelandic households are in serious trouble. When the economy melted down last year, the krona plummeted and loans that people had taken in foreign currencies [they were all the rage here in 2006-2008] went through the roof. Initially the government responded by allowing people to freeze their loan payments for the time being. That freezing runs out in October, at which time households that are already heavily indebted will face an even greater burden, that in many cases will be insurmountable. Defaults have already started to increase – and starting in October they are likely to increase even more.
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Posted by seumasach on September 13, 2009
11th September, 2009
Ok, so it’s been a while since I’ve written a really depressing post, right? So it’s about time, right?
Posted in Revolution in Iceland | Tagged: bankrupt iceland, defend Iceland's sovereignty, Revolution in Iceland | Leave a Comment »
Posted by smeddum on August 31, 2009
Simon Watkins, Financial Mail
30 August 2009
Iceland has finally agreed to pay £2bn owed to the UK taxpayer after the collapse of its banks – but only if its own economy recovers. Read the rest of this entry »
Posted in Revolution in Iceland | Tagged: debt revolt, Revolution in Iceland | Leave a Comment »
Posted by smeddum on August 25, 2009
Icelandic lessons for indebted countries
Jubilee Debt Campaign
By Nick Dearden, Director of the Jubilee Debt Campaign
Recent events in Iceland may have completed that countries transformation from free market, credit-fuelled billionaire playground to champion underdog. The Icelandic Parliament’s offer to the UK and Dutch governments earlier this week that it will pay back its debts but only at a level it can afford, could provide an invaluable model for how indebted nations can start putting the needs of their people ahead of the desires of the global financial markets. Read the rest of this entry »
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Posted by seumasach on August 20, 2009
20th August, 2009
Tomorrow, a decision will be made as to whether the Suðurnes Power Company [HS orka, in Icelandic] will become fully privatized and owned by a Canadian company called Magma Energy.
This is the horror story of the week.
Posted in Revolution in Iceland | Tagged: bankrupt iceland, Iceland sell-off, Revolution in Iceland | Leave a Comment »
In These New Times 