Exactly how does one’s shirking of debt, outright denial and refusal to pay such constitute “impressive?.....
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in Ireland, there was basically NO public debt.
NONE.
now, they are the most in debt nation in the world.
because their liberals passed a law,
making the common people liable for the bankers toxic debt.
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in Iceland, the common people refused.
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just as i hope our grandchildren, refuse to pay unsustainable pensions, promised on THEIR future bank accounts!
Because Icelanders realize that in a true free market, companies that make bad decisions should pay for those bad decisions, instead of getting bailed out by the taxpayers. It’s called “risk” for a reason. Otherwise, you privatize profits, and socialize losses, the worst of both worlds.
You have that right. Ireland did the opposite of Iceland when the banking crisis hit. Ireland was so addicted to being on good terms with the EU. Iceland was and is in a better export position so was willing to take a shot defying the EU honchos and banks