In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘Defend Iceland!’

Icelanders need to be told the magnitude of their economic problem

Posted by smeddum on May 12, 2009

Make Iceland Pay for Incompetent British Bank Deregulation!

Gordon Brown Spills the Beans on the IMF   Counterpunch  

>By MICHAEL HUDSON                       May 11, 2009

Last month the G-20 authorized the International Monetary Fund to increase its loan resources to $1 trillion. It’s not hard to see why. Weakening currencies in the post-Soviet states threaten to raise default rates on foreign-currency mortgages as collapse of the Baltic real estate bubble drags down Swedish banks, while the Hungarian property plunge threatens Austrian banks. It seems reasonable to infer that creditor-nation banks hope to be bailed out. The IMF is expected to lend the Baltic, central European and other debtor-country governments money to pay them. These hapless debtor economies are then to follow IMF “conditionalities” to squeeze enough money out of their populations to pay foreign creditors – and repay the Fund by imposing yet more onerous taxes on their labor and industry, making them even more high-cost and therefore pushing them even further into trade and credit dependency. This is why there have been so many riots recently in Latvia, Lithuania, Estonia and Ukraine, as was the case for so many decades throughout the Latin American countries that introduced the term “IMF riot” to the global vocabulary. Read the rest of this entry »

Posted in Battle for Europe, Revolution in Iceland | Tagged: , , , | Leave a Comment »

Michael Hudson and John Perkins on Icelandic TV

Posted by seumasach on April 7, 2009

Please click on this link for these absolutely indispensable, masterly interviews:

Lara Hanna’s Blog

Posted in Revolution in Iceland | Tagged: , , , , , | 2 Comments »

Rockall claim puts Britain on collision course with Iceland

Posted by seumasach on April 7, 2009

Perhaps another chance for the Brits to invoke anti-terror legislation and grab a bit of Iceland’s oil. Measuring the continental shelf from St. Kilda seems to be stretching it a bit. I suppose we can measure out 350 miles from the Malvinas too, and grab the oil that’s known to be there.


1st April, 2009

Britain has lodged an application for thousands of square miles of the seabed around the Atlantic outcrop of Rockall – embarking on what could be a diplomatic collision course with Iceland and the Faroes.

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Posted in Revolution in Iceland | Tagged: , , | 1 Comment »

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