Iceland is finally bankrupt

Typical doomsday predictions are tiresome and irritating but once in a while something close to a doomsday prediction is close to the truth. This is one such moment.

It seems clear that Iceland is bankrupt. The word has been going around for months about it. The reason I declare the nation bankrupt is because we don’t see any way out.

Iceland is financially bankrupt because we have to pay more than the Germans did in war retributions after the first world war. We simply cant pay that.Iceland Is Bankrupt

Iceland is mentally bankrupt because of our idiot leaders ability to take actions and inform the public about the status.

The Icelandic nation is bankrupt because we cant pay the loans that are getting higher every day mostly because of IMF actions who seem to more political rather than economical. They don’t want the Central bank to lower the worlds highest guiding interest rates. The interests only hurt the locals. (See a great article about this here at the EDA site) Our business people don’t seem to grasp the situation.

The Icelandic government isn’t doing anything for the public that has to pay for the whole mess. The Icelandic public has to pay for the IceSave mess. The Icelandic public is paying the British public and companies so much that bankruptcy is looming over, not just of the nation, but the general citizen.

The government is not telling us what how serious the problem is. Yesterday the Prime Minster Jóhanna Sigurðardóttir said “…that the situation was worse than we expected”. And after 8 months people are still loosing their jobs, income, houses, life savings and their dignity.

The situation was clear back in 2007 when the credit lines closed. Iceland was told by the USA, UK and others to talk to the IMF for emergency measures. Instead the party just kept on going and the government (the last one) not only mislead the nation, but simply plain lied to us.

The sad part is that our neighboring nations, Scandinavia, Great Britain or the EU did not help us. We might deserve ridicule and being called an example of government and regulatory failure, but for both Germany and UK to pressure Iceland to pay up or they would squeeze the EU to not let us in. Iceland, or should we say the government, not the public, is to blame. But the public has to pay.

It´s very sad that those great nations are willing to let a nation go down in flames instead of helping us by giving us a loan on reasonable interests so we can rebuild instead of loosing all and the nation will be the only western nation stuck in poverty.

The EU could give us the boost we need, but our idiot politicians are not willing to do what is needed, instead the bicker about stupid and completely irrelevant things such as pole dancers and genetically modified food. Both valuable topics in their own right, but when the situation is as it is now, totally irrelevant.

People, business people, politicians and the media seem totally oblivious to the situation, so I declare them all bankrupt with out economy.

The government said transparency would be the key word, it still is the keyword, but we are not seeing anything. Encrypted files, deals with foreign nations over debts done without parliament knowledge and the general public is still in the dark about what is going on.

Where is Eva Joly? Where are the special prosecutor? Why is nothing being done to get those responsible too own up to their crimes?

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