AKA The Dragon
Similar scenario to Cambocia twenty years ago, and the australian government if still recieving rice payments evry year even though Cambodia cant feed their ownOk, but the IMF provides loans with interest. If the banking system that created the boom in Iceland is no longer 'vibrante'... what goods and services will Iceland provide to the world (to creates a positive GDP) that will allow Iceland to repay the IMF debt? In other words if banking is no longer the leading revenue source then what can Iceland do to service a $6 billion IMF debt as well as the losses on the toxic debt from the newly nationalized banks? Iceland has around 300,000 citizens.... the debt service per capita is staggering. This is not a good development... rather this is a guarantee that the debt will largely be repaid through the exploitation of Iceland's resources and people.
The IMF has also recently bailed Hungry and Ukraine in the same way. The IMF has capital limits too and they can not save everyone from the abyss. Latvia, Lithuania, Switzerland, Belgium and Ireland are lining-up outside the IMF door.
We are witnessing the greatest geopolitical shifts since WWII. Unfortunately this is taking place with financial weaponry that few people understand. In a few months/years we will ask ourselves how did we let the world change so drastically with little resistance from the future victims.
We did this for a reason. A lot of our money was tied up in dodgy Icelandic banks so we just kept what they had here to repay what they owed.Britain used anti-terror legislation to freeze the assets of this nation and its ability to make international transactions alone, during the recent crisis. Now they are being good boys, they can get a big IMF loan, join the EU and maybe even go to Mars. Yay!
A nation with a private banking system does not "owe" foreigners anything, in such a collapse. True, it's happened in the US and the UK, but with much anti fanfare if you have noticed it (bailing out the rich). What was "dodgy" about these banks were the British and other clients who held money there for its low tax status. Can't blame a tundra nation for not needing a lot of infrastructure and thus not high taxes. Anti-terror legislation was used when they wouldn't back the crisis with taxpayer's money and as they then reached to Russia for help. Just like it's used on common folk for little things. Another example of what those new powers are really for. Reverse things perhaps; would Britain appreciate the terrorist label for not backing Icelandic offshored money? Common sense, yes. Another revelation of what these laws are about, yes.We did this for a reason. A lot of our money was tied up in dodgy Icelandic banks so we just kept what they had here to repay what they owed.
From the presentations of main and fringe political parties they were laws designed to protect us from bearded 'moslom' attacks upon our way of life. They would be used on non-State extremists, not on the State of Iceland ffs or on John Johnson to check if he is paying the right taxes.Was there ever any doubt what these laws were about?
USA has been doing that for years in Central America and South America. What´s the difference?. They´re whities and South Americans are not?...pretty good idea on Putin's part- they get food, he gets a favor from a UN country with high strategic importance