In These New Times

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Posts Tagged ‘bankrupt iceland’

The Icelandic Volcano Erupts

Posted by seumasach on February 9, 2009

Rebecca Solnit

Common Dreams

9th February, 2009

In December, reports surfaced that Treasury Secretary Henry Paulson pushed his Wall Street bailout package by suggesting that, without it, civil unrest in the United States might grow so dangerous that martial law would have to be declared. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), warned of the same risk of riots, wherever the global economy was hurting. What really worried them wasn’t, I suspect, the possibility of a lot of people thronging the streets with demands for social and political change, but that some of those demands might actually be achieved. Take the example of Iceland, the first — but surely not the last — country to go bankrupt in the current global crash.

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Iceland-On holding the tycoons accountable

Posted by seumasach on February 9, 2009

Iceland Weather Report

8th February, 2009

Yesterday I got all bundled up and headed down to the weekly Saturday demonstration, in the freezing cold. Yes, the demonstrations are still being held, although the number of people in attendance have dropped substantially. Yesterday there were 500-1,000 people there, including a group of four Germans who came to Iceland expressly to find out what Kaupthing has done with their savings.

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We need far more radical changes

Posted by seumasach on February 5, 2009

Iceland Weather Report

4th February, 2009

Our third in a series of interviews featues Icelandic singer/songwriter and activist Hördur Torfason. He is the man behind Raddir fólksins [Voices of the People], a grassroots organization that has planned Saturday demonstrations in downtown Reykjavík since last October. It is largely due to his tireless work and perseverence over the past few weeks that the Icelandic people were able to force, through protests, the recent change in government.

IWR: How are you feeling, now that the protests have produced the desired results?

HT: I feel many things … on the one hand I’m elated that some of our demands have been met, and happy about this major victory that intensive planning and perseverence have brought about. On the other hand I am absolutely exhausted. It’s been a massive comedown in the last few days. I normally sleep six hours a night; I’ve been sleeping 12 a night and I’m still tired.

IWR: When you started, did you imagine that things would turn out this way?

HT: I had nothing specific in mind. The first Saturday of the demonstrations I just stood out on Austurvöllur with an open microphone and invited people to speak. I talked to people, listened to people, wrote things down. I was indignant … I felt that my human rights were being violated, in that a few people could bankrupt my country in this way and put me and my fellow citizens into such massive debt.

hordur_torfason_779031The following Saturday we had our first organized demonstration. However, I was uncomfortable with it because it focused on only one individual, making one person responsible for the entire debacle.* To me it was important for the demonstrations to reflect as many opinions and viewpoints as possible, that they truly be the Voices of the People, and not a platform for political or religious organizations. It’s been a constant effort to keep away groups that have wanted to infiltrate the movement. It has become a major draw for them when they see how successful the demonstrations are.

At the beginning of the demonstrations there was a lot of unfocused anger around, as people tried to come to grips with what had happened. Our demands really took shape on the third Saturday, as we began to gain a better focus. They were: RÍKISSTJÓRNINA BURT! [away with the government!], STJÓRN SEÐLABANKANS BURT! [away with the Central Bank’s board!], STJÓRN FJÁRMÁLAEFTIRLITSINS BURT! [away with the board of the Financial Supervisory Authority!], and KOSNINGAR EINS FLJÓTT OG AUÐIÐ ER! [elections asap!]. That is also when Raddir fólksins was formally established.

IWR: With the recent changes, what will happen to the protests? Will the Saturday demonstrations continue?

HT: I think protests will continue because I feel that we need far more radical changes than we have seen thus far. The changes have to be made so we do not fall back into the same old pattern. The forces of corruption must be eliminated. Our entire system is decayed and needs to be completely rebuilt. Besides, one of our demands has not been met – we have seen no significant changes at the Central Bank. But we have this new government now and we need to give them a chance, to see what they will do.
As for the Saturday demonstrations, I’m not sure. We’ve reached a major milestone and that always calls for reflection. At the moment I’m taking a breather, considering my next move.

IWR: We have elections coming up in April … will you or Raddir fólksins stand for election?

HT: No. I am not a political person. I have no political or religious affiliations. I am an artist and it is my job to criticize and to fight for human rights. As far as I know, none of the people who have taken part in this work with me intend to run for office. Raddir fólksins is a group of independent, thinking people who want to facilitate change. But it is not a political movement.

The only thing I dream about now is going back to my daily routine, attending to my home, my songwriting, and to be able to travel and explore the world.

* The first organized demonstration focused solely on the removal of Central Bank Director Davíð Oddsson and was widely criticized. Subsequently the organizers split into two factions; however, the other did not operate for long.

[The image of Hördur Torfason was nicked from Lára Hanna and is used by permission.]

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Iceland’s Marie Antoinette

Posted by seumasach on February 2, 2009

 

 

Dorrit Moussaieff: How to revive Iceland

The first lady of Iceland, and jeweller to the super-rich, has a plan to revive her country – turning it into a cooler version of Dubai

 

Times 

1st February, 2009

In a week when Iceland plunged even further into the grip of political chaos, its currency was binned, everyone in government was sacked and a new prime minister, in the shape of the world’s first lesbian national leader, was hastily installed, one might imagine that the president’s wife would be sitting on a rock, wailing.

Not a bit of it. That is because the Icelandic first lady comes in the zippy form of Dorrit Moussaieff. She is sitting in the splendid drawing room of her Belgravia apartment, which is panelled with wood and decorated with porcelain and paintings by Toulouse-Lautrec and the preRaphaelites. At 59, dripping in jewels and with her nut-brown hair freshly blow-dried by Nicky Clarke himself, she looks closer to 35.

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Iceland to Become EU Member by 2011?

Posted by seumasach on January 30, 2009

 

Iceland Review

30th January, 2009

EU officials have announced that Iceland’s application for EU membership could be expedited in an effort to save the nation from financial ruin. In a process that normally takes years or even decades, Iceland could become the 29th member of the EU as early as 2011.

EU Central Bank, Frankfurt, Germany. Copyright: Icelandic Photo Agency.

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Iceland politicians eye central bank overhaul

Posted by smeddum on January 29, 2009

 

 

Wed Jan 28, 2009 3:03pm EST
REYKJAVIK, Jan 28 (Reuters) – Senior members of Icelandic political parties trying to form a new coalition said on Wednesday they were making progress and one of their first tasks would be to overhaul the central bank board of governors. Read the rest of this entry »

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Reykjavik-on-Thames

Posted by seumasach on January 28, 2009

“Iceland’s shift to the left on Tuesday marks the end of a 17-year experiment in free market economics. This promised – for a time – to transform a volcanic island on the mid-Atlantic ridge into a booming tiger economy. Such dreams have been replaced by a vicious rise in anti-capitalist sentiment and disgust at brash and aggressive young businessmen dubbed the “Viking raiders”. Whichever direction the new leftist government may take the country, Straumur is unlikely to hang around to find out.”

FT

27th January, 2009

Straumur-Burdaras, the last Icelandic bank left standing, is seeking to move its primary listing to London or Stockholm, conditions permitting. On the face of it, Straumur’s decision to redomicile is the final insult for a country slipping fast into severe recession. But the bank, which has 85 per cent of its assets outside Iceland, has little choice but to adopt a sauve qui peut approach. De-icing or defrosting itself is its best hope of survival.

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What’s Next for Iceland: Ensuring a Fair Election in May

Posted by seumasach on January 27, 2009

“Our only hope now is a peaceful transition from a corrupt plutocracy to the responsible liberal democracy we had fooled ourselves into believing we already had.”

Concealed within the forms and norms of Western democracy lurk “a small group of megalomaniacs” ,”a corrupt plutocracy” who subvert its workings. The revolution in the West consists in large part of the removal of these miscreants from all proximity to the reins of power.

Iris Erlingsdottir

Huffingdon Post

23rd January, 2009

Icelandic Prime Minister Geir Haarde, leader of the Independence Party, announced at a press conference today that he was stepping down for health reasons and called for parliamentary elections on May 9th. Foreign Minister Ingibjorg Solrun Gisladottir, leader of the Social Democratic Alliance, which formed the other faction in the ruling coalition government, also stated that she favored spring elections.

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A crazy, exhausting week- A great report on unfolding Icelandic drama!

Posted by seumasach on January 24, 2009

Iceland Weather Report

24th January, 2009

TUESDAY – major protests begin. People gather in front of the parliament buildings at 1.30 pm and bang pots and pans and drums and generally make as much noise as possible in order to disrupt parliament and get MPs to listen to the people. Rather than dissipating after an hour or two, protester numbers increase as the day wears on. There are clashes with police and people are incensed, particularly as parliament’s agenda has nothing to do with the economic situation but rather includes such relative trivia as selling liquor in supermarkets and what to do about smoking areas in restaurants. By eveningthere are around 3,000 people in front of the building. Protesters light a fire on the street in front and throw anything they can find to burn onto it. The riot police is out. Some protesters go out of their way to provoke a reaction from the cops, throwing eggs at them, banging wooden spoons on their helmets, spitting, etc. The building, too, is pelted with food and windows are broken.

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Iceland’s government is on the point of collapse as angry protesters stake out the parliament in Reykjavik

Posted by seumasach on January 23, 2009

 

Eirikur Bergmann

Guardian

21st, January, 2009

While Barack Obama was being sworn in to office on Capitol Hill yesterday, the people of Iceland were starting the first revolution in the history of the republic. The word “revolution” might sound a bit of an overstatement, but given the calm temperament that usually prevails in Icelandic politics, the unfolding events represent, at the very least, a revolution in political activism.

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Iceland’s prime minister resigns

Posted by seumasach on January 23, 2009

 

 

FT

22nd January, 2009

Iceland’s embattled prime minister resigned on Friday citing medical reasons and called an early election for May, a move that could prompt a dramatic shift to the left after a 20-year experiment in free market economics.

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