It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Patifier
Anyone form Iceland that can confirm this? Couldn't find any other source on this history, even Icelandic news websites. Telesur that published the original video is a Venezuelan news channel.
Iceland’s government will this week present a bill allowing debtors to walk away from obligations that exceed asset values and to nullify personal bankruptcies after four years, Internal Affairs Minister Ogmundur Jonasson said.
“All Icelanders can see that our society is currently in turmoil,” Jonasson said in an interview in Reykjavik. “We’re therefore required to sit down at the table and offer solutions; I don’t anticipate that the people running financial institutions will disagree.”
The island’s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Iceland’s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates. It costs about the same to insure against an Icelandic default as it does to guard against a credit event in Belgium. Most polls now show Icelanders don’t want to join the European Union, where the debt crisis is in its third year.
The island’s households were helped by an agreement between the government and the banks, which are still partly controlled by the state, to forgive debt exceeding 110 percent of home values. On top of that, a Supreme Court ruling in June 2010 found loans indexed to foreign currencies were illegal, meaning households no longer need to cover krona losses.
Originally posted by liquidsmoke206
reply to post by emberscott
I don't think that is meant to mean actual American police....although the article is unclear and not translated well, that's very hard to imagine. I think what he's saying is that it's American style police, aka unmarked cars and stuff. I don't know if that is something new in Iceland or what, but the thought of American police pulling people over in Iceland is a little too far fetched for even the craziest conspiracy nuts on this site. I would love a little more info on this.