didn’t iceland basically declare bankruptcy and GB moved in to get whatever assets it could?
Englandistan is becoming an Islamic state thanks to open-borders and political correctnees. The same people behind Obama’s campaign destroyed the UK.
- As a nation, Iceland is far from bankruptcy if I've understood things correctly. The fuss started when
“The British government seized Icelandic assets in the UK under the Anti-terrorism, Crime and Security Act 2001”
The British government argued it is “illegal” to withhold the assets of British account holders.
Icelandic economy is in a severe crisis, but probably they'll join the EU and the rest of us will rescue them if the situation gets worse.
It's OK with we. After all it is a very small country so the rest of us Europeans can afford it. My country, Sweden, has had the same kind of problem in the financial sector in the early 1990s. Even if I think we have enough of “big government” in Sweden, my opinion is that our government handled the situation in a competent manner. Iceland will probably try to copy what we did more or less (the banks that were in difficulties were first nationalized to a large degree and later on the government sold off a lot of the shares, in this way private savings were rescued and the prior stock holders had to pay, not the tax payers - which I think is fair).
Basically, they are right. This is the problem with anti-terrorist legislation. Once it is on the books, it can be used for anything - Britain seized Icelandic assets using its anti-terrorism laws, which is obviously what they were never intended for.