Comments on: IMF loan to Iceland blocked by Dutch and British

By: Daniel

Daniel — Fri, 04 Jun 2010 09:45:08 +0000

Beware, Iceland, who you let into your banks.

http://www.rense.com/general90/isrole.htm

By: Paul

Paul — Sat, 29 May 2010 18:06:32 +0000

The western culture of greed is really to blame. Prior to the Icelandic crises I frequently asked myself why so few people questioned how a country of around 300,000 with little mineral wealth could become such a major force in both banking and business in such a short space of time.

For some reason it was never highlighted in the media whether that be in the UK or to the best of my knowledge Holland. Too many people had become self focused in their own little world & not caring a jot where the money was actually coming from. Surely it did not require the brain of a rocket scientist to work out something didn’t quite add up.

By: domingos

domingos — Mon, 19 Apr 2010 14:27:12 +0000

For Stan an Dario
end more . I’m not asking you to feel sorry for me.I am not Icelandic and I’m here to live with my family two sons and another on the way.I lost all my savings,was not living a great life with great cars or houses or many loans.just a family life,in my corner and within my possibilities.In 2006 I bought a house valued at 14,500,000 ISK,I made a payment of 4.500.000 ISK my debt with the bank in 2007 was 9,560,000 ISK.the value of the debt of my house today is 15,150,000 ISK.nobody will pay me my lose on Exista end strámur ,ho and I was most fortunate to have already paid my car,because I have friends who are in more difficult situations,Stan I think you’re sore from your losses as we all losse, but what is issue is find those are responsible and make them pay.Now do not think it is fair another 20 thousand euros for me to pay for something that I had nothing to do.not me my children and my family.the funny thing is that they are living in England and Brussels, and i do not think is fair I go buy a new car and send you the bill for you to pay,Stan this is happening for real Stan then before you throw stones to people who live a family live here.think just a family life,in my corner.

By: Knowless

Knowless — Thu, 11 Mar 2010 12:05:58 +0000

I suppose you are right about the “basket case mismanagement scenario”
It was gravely predicted by many in Spring 2009 that the UK require bailout loans from the IMF, for a second time.

By: Peter - London/Krakow

Peter - London/Krakow — Thu, 11 Mar 2010 09:50:34 +0000

“Don’t take IMF money!”

Nobody forces countries to take a loan from the IMF; those that do are already a basket case of mismanagement and a 50% success is probably all you could expect.

Maybe Icelands elite will steal the loan and spend it on Hookers, cars and casino’s, who knows, but the IMF will at least try to impose a regime and Iceland’s economic figures are showing a lot of improvement by following the IMF plan.

By: Peter - London/Krakow

Peter - London/Krakow — Thu, 11 Mar 2010 09:45:08 +0000

“If Iceland will not pay back their debts we will start collecting signatures to become a referendum in the Netherlands for banning Iceland to become a member of the European Union.”

UK and NL will block Iceland joining the EU (and all that grant money…), thats a given. The question is whether they should be kicked out of the EEA. Having duty free access to EEA markets and the ability to work in the EEA is a major financial benefit today. Losing that access and having probably many of thousands of expat Icelanders having to return home to unemployment in Iceland doesn’t bear thinking about.
I can’t see it happening though; Iceland will accept a deal probably the deal being offered or maybe with sweeteners such a as an oil deal. I doubt UK would be interested in oil permits in the Dragon area, its not economic and probably never will be with the rise in renewable energy.

By: Pedro Lopez

Pedro Lopez — Thu, 11 Mar 2010 06:37:47 +0000

It is actually a good thing. Look at IMF’s record, less than a 50% success rate. Worse than flipping a coin. If Iceland gets IMF money, in 5 years they will not recognize their country. Inflation will be up, social service slashed, and their currency devalued. In 10 years life expectancy will be down as will education level and money for infrastructure. Look to Russia and Jamaica as to what the IMF and World Bank do to countries. They are supposed to be different organizations but the principals often serve in leadership roles in both organizations.

Don’t take IMF money!

By: luuk Paulisen

luuk Paulisen — Sun, 07 Mar 2010 08:11:12 +0000

Countries like Iceland who doesn’t want to pay back their debts don’t belong in the European Union. Taxpayers in the United Kingdom and the Netherlands will have to pay for the debts of Iceland !

If Iceland will not pay back their debts we will start collecting signatures to become a referendum in the Netherlands for banning Iceland to become a member of the European Union.
Apparently the Icelanders have a lack of social justice and want to place the burden on the shoulders of other people. That is excactly the kind of people the European Union does not want!!!!

By: Henry

Henry — Sun, 07 Mar 2010 02:14:00 +0000

This situation is best described by the British saying:”penny wise, pound foolish”. Saving 1 ISK costs many ISK’s. If the citizens of Iceland think the interest is too high and want a new deal, consider the following:

1. No IMF loan means
2. Downgrading of Islandic Bonds by rating agencies like Moody’s etc.
3. Iceland unable to loan from the international capital market, maybe only for 30% interest or more.
4. ISK becomes completely worthless and Euro’s and Pounds become extremely expensive. All currencies are extremely expensive. Debt explodes beyond imagination.
5. As Iceland cannot pay for foreign goods. No trade, so nobody cares for Iceland. Complete impoverishment of Iceland.

Hey, congratulations with the “yes”.

By: Henry

Henry — Sun, 07 Mar 2010 01:51:59 +0000

As the English saying goes: “penny wise, pound foolish”. If Iceland thinks the rent is of payment is too high, consider the following.

Of the IMF blocks the loan to Iceland, Icelandic Bonds will become rated down. This essentially means no country or institution on the world will loan to Iceland, your currency will become worthless and debts become even higher. Iceland has to pay the Dutch And British in Euro’s and Pounds. Those currencies have to bought first. But 1 Euro or Pound might cost 10.000.000.000 ISK’s. Call that for expensive!