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© Copyright 2008/9 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.Iceland teeters on the brink of bankruptcy
REYKJAVIK, Iceland©2024 GPlusMedia Inc.
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adaydream
This is one hell of a finacial situation world wide. < :-)
SuperLib
Great, now we're going to have endless posts from people condemning the Europeans for their shaky economic model built on greed and screwing the poor.
Scrote
I was tempted by the savings rates on offer from those Icelandic banks, more than 7% p.a. on sterling deposits in some cases. I'm lucky that in my case nagging doubts about Icelandic banks outweighed greed, and I invested elsewhere.
smithinjapan
Maybe China can still afford to buy it.
Helter_Skelter
That doesn't sound good. I don't even think Bjork can get them out of this.
neverknow2
Its America's fault. Their greed caused the problem. Now so many people are suffering. No onder the wrold hates them.
smithinjapan
Helter: "I don't even think Bjork can get them out of this."
Good one! haha. Maybe if she rejoined with what's-his-name and started up a Sugar Cubes tour (was that their name?).
WilliB
neverknow:
LOL! Yes, that is the typical leftist reaction to anything. The Icelandic banking bubble pops, and somehow GWB must be to blame.
smithinjapan
WilliB: "LOL! Yes, that is the typical leftist reaction to anything. The Icelandic banking bubble pops, and somehow GWB must be to blame."
Funny, I haven't seen a person on here blaming the US for this, except sarcastic remarks from some very defensive posters. Subconscious guilt, perhaps?
CavemanLawyer
They should start selling pieces of Bobby Fischer, like people did the saints of old. That should replenish the coffers! --Cirroc
coulrophobic
What did people really expect:
Back home, the average family’s wealth soared 45% in half a decade and gross domestic product rose at around 5% a year.
But the whole system was built on a shaky foundation of foreign debt.
The country’s top four banks now hold foreign liabilities in excess of $100 billion, debts that dwarf Iceland’s gross domestic product of $14 billion.
Xennon
smithinjapan,
neverknow2 said "Its America's fault" at 10:08.
At any rate this really is scary news.
Eek!
WilliB
smithinjapan:
If you had bothered to look one single line above, you would have seen the quote. Sheesh.
sdmsec
I just love it when someone claims that one side of a business transaction, freely entered into, is "greedy". Don't both borrowers and lenders hope to gain something through their transaction? Aren't both equally greedy?