There is so much bollocks going on in this discussion, and around the world. I wish my fellow conservatives were a little more enlightened. You should realize we are one of the worlds most Friedmanian experiment there are (look it up on Wikipedia) and not some socialistic hell hole so many here are claiming. Of course we have been working ourself out of a scandinavian style socialdemocratic system, but we newer went as far as they did anyway.
But Iceland is far from going bankrupt, your information is, like most things about this issue, inaccurate.
Iceland has virtually NO GOVERNMENT DEPT. We have been paying up all our government depts over the past decades. Much of the assets of the banks will be able to pay for their foreign and domestic obligation, and the government has ensured that their domsestic obligations (at least in inloans) will be met fully. That means we will stand up with a banking system suited for domestic needs, a little more domestic depts, but still no external depts and one of the lowest tax regimes in Europe.
That in addition to a young, higly educated (and fertile) population, used to working hard and for long hours, a people with individualistc streak, entrepreunially minded who will be able to take advantage of how easy it is to found companies here because of little red tape, a fully funded pension system and after the collapse of the Krona a workforce aiwailable to be hired cheaply, will be a favorible scene for investment when all of Europe will have to raise taxes even more than now to pay for their bailouts of their banks. We are just doing what capitalistic principles foretell, badly run banks and companies will collapse, not endlessly put all losses on the burden of taxpayers but scoop up all the profits themselves.
Althhough I am optimistic for the long term a little is pending on what will happen with government guarantee of Icesave accounts (of Landsbanki, whose subsidiary status in Britain makes the Icelandic state partly responsible for their inloans) in Britain and Holland and very likely suits claims against the british governments economic warfare that destroyed the strongest bank (Kaupþing) that would have survived if it hadn´t been for British actions against the BRITISH bank Kaupthing, Singer & Friedlander owned by icelandic Kaupþing (so their inloans were all the time guaranteed by the british state not the Icelandic one)
http://blogs.telegraph.co.uk/daniel_hannan/blog/2008/10/09/we_are_treating_iceland_disgracefully
Thank you for the info - and best wishes to you and your compatriots in Iceland!
p.s. More info and photos on Miss Iceland contestants and winners are needed on this thread.
Thank you! Accurate information is so very difficult to find, on any subject. We are fortunate to have Free Republic!
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