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Originally posted by nunya13
Here's a GREAT article to read that give some background to the situation. Maybe the OP could at it to his/her OT?
The Breakup of the Euro and the Euro-zone?
Last month Iceland voted against submitting to British and Dutch demands that it compensate their national bank insurance agencies for bailing out their own domestic Icesave depositors. This was the second vote against settlement (by a ratio of 3:2), and Icelandic support for membership in the Eurozone has fallen to just 30 percent. The feeling is that European politics are being run for the benefit of bankers, not the social democracy that Iceland imagined was the guiding philosophy – as indeed it was when the European Economic Community (Common Market) was formed in 1957.
By permitting Britain and the Netherlands to blackball Iceland to pay for the mistakes of Gordon Brown and his Dutch counterparts, Europe has made Icelandic membership conditional upon imposing financial austerity and poverty on the population – all to pay money that legally it does not owe. The problem is to find an honest court willing to enforce Europe’s own banking laws placing responsibility where it legally lies.
How Greece is involved...
This austerity program (“financial rescue”) has come to a head just one year after Greece was advanced $155 billion bailout package in May 2010. Displeased at how slowly the nation has moved to carve up its economy, the ECB has told Greece to start privatizing up to $70 billion by 2015. The sell-offs are to be headed by prime tourist real estate and the remaining government stakes in the national gambling monopoly OPAP, the Postbank, the Athens and Thessaloniki ports, the Thessaloniki Water and Sewer Company and the telephone monopoly. Jean-Claude Juncker, Luxembourg’s Prime Minister and chairman of the Eurozone’s group of finance ministers, warned that only if Greece agreed to start selling off assets (“consolidating its budget”) would the EU agree to stretch out loan maturities for Greek debt and “save” it from default.
What this means and how it could pan out...
The problem is that privatization and regressive tax shifts raise the cost of living and doing business. This makes economies less competitive, and hence even less able to pay debts that are accruing interest, leading toward a larger ultimate default.
The textbook financial response of turning the economy into a set of tollbooths to sell off is predatory. Third World countries demonstrated its destructive consequences from the 1970s onward under IMF austerity planning. Europe is now repeating the same shrinkage.
They've got themselves one hell of a plan, don't they??
Originally posted by eLPresidente
All I'm thinking when I read this title is 'war on Iceland'.
Is it wrong of me to think this way?
Originally posted by Blaine91555
reply to post by jaycen420
Other countries bailed them out. Then they refuse to pay those who helped them back. Seems clear enough.
What is Iceland's income source now anyway. As I recall it was fishing, then they switched to providing financial services and banking was the basis of their income. Then the banks failed, their banks failed and they borrowed money to survive. Now they don't want to pay it back?
I'm not sure you are understanding what is happening here. Iceland was wealthy, although tiny in population. They, the people of Iceland chose banking and providing banking services as the vehicle to support themselves. They chose that, not others.
Is there not a mass exodus happening there due to the financial collapse? I seem to have read that someplace? I don't think they can go back to fishing and if they don't pay their debts, they are done providing financial services, so that pretty much ends Iceland. It most certainly ends trade and Iceland does not manufacture anything does it?
These conversations about the banks are always so childish and uninformed, makes me wonder just how bad our schools really are now.
Originally posted by star child
reply to post by backinblack
Good question. Could it be that the NWO is the big lie? and it's the "Old world order" all along.
Originally posted by nunya13
reply to post by muzzleflash
I don't think it will be a challenge for them at all. The PTB are perfectly capable of fighting a war without weapons.