Comments on: Iceland economy and Icesave update

By: STARLIN

STARLIN — Fri, 21 Nov 2008 19:18:06 +0000

ICESAVE CUSTOMER TO ICELAND WHAT GOS AROUND COMES AROUND YOUR PAY IN THE END NO SETTING UP BANKS IN ENGLAND NO UK GOING FOR HOLIDAYS TO ICELAND STOP BUY YOUR FISH THIS WILL HURT YOU.

By: orchafine

orchafine — Sun, 16 Nov 2008 23:06:01 +0000

What a Drama queen this Hans… Probably Pablo knows what is talking about.
Just go to work more, because the government needs more than ever from our 40% taxes.

By: Knowless

Knowless — Sun, 16 Nov 2008 15:45:53 +0000

On Nov 16, 2008, STAN said:
“The Icelandic people apparently are naive and had NO regulations that were enforced to protect themselves and the outside investors against the thieves in control of your country.”

Strange you should say that Stan because
this current economic crisis in Iceland has it’s origins in Iceland adopting EU Banking regulations in the 1990′s and Iceland have adopted all the EU changes made to effect a Laissez Faire attitude by Government to Banking.

Certainly the Government of Iceland should have ignored the EU banking directives and instructed the Central Bank to steadily build up its Gold Reserves every year to support the currency, with the aim of 100% gold bullion foundation.

By: hans

hans — Sun, 16 Nov 2008 15:10:26 +0000

pablo!!!!!!What you said is a thing without any RESPECT(!!!!!) and KNOWLEDGE(!!!!)of Icelandic people!!!!!They are very hard workers AND every time when they come in a crisis they know by working hard!!!!!coming out of this!!!!PLs.SAY NOT THAT STUPID THINGS ANYMORE!!!!

By: RDG

RDG — Sun, 16 Nov 2008 14:43:47 +0000

So, the entire voting population of Iceland is responcible for this mess?
My word I have a lot to answer for for electing the present UK government!
Sorry chaps!!

By: STAN

STAN — Sun, 16 Nov 2008 12:02:48 +0000

…dependant upon Government.’ The word Government means ‘the people’, not an imaginary group of fat white men, all together in a big room, wearing sun glasses and controlling the world in a sinister way. ‘The people-citizens that vote’, have the responsibility, in any free society, to elect people that will be fair and honest, and also to have regulators/agencies to monitor those same people in charge.The Icelandic people apparently are naive and had NO regulations that were enforced to protect themselves and the outside investors against the thieves in control of your country.

By: Gray, Germany

Gray, Germany — Sun, 16 Nov 2008 09:57:28 +0000

“The Icelandic people work very hard.. most of them.”
Most of them, except those teenagers “working” in service jobs, of course:
“Customer Disservice”
http://www.icelandreview.com/icelandreview/daily_life/?cat_id=16571&ew_0_a_id=315026

By: orchafine

orchafine — Sun, 16 Nov 2008 09:55:53 +0000

It’s funny to read foreigners talking about what they saw and felt passing by Iceland.
I will think you need some minimum life experience in any cultural critics.
There is work and works,
There is going and coming back…

By: Gray, Germany

Gray, Germany — Sun, 16 Nov 2008 09:50:14 +0000

“there is a banking crisis and Icelandic banks where some of the first to get hit by it.”

PBM, Icelandic banks were so ridiculously overleveraged that every crisis would had brought them down. The banking sector’s balance sheet was at 900% of the GDP, while even in bank heavy Swiss it’s only 650%. At the same time, Iceland is much smaller, so it is much more vulnerable to market pressure by big hedge funds (which bet on an Icelandic bankruptcy since a long time). The inefficient central bank and the incompetent government assured that no serious crisis management was possible.

Sry, but if you look at studies of the Icelandic crisis by economic experts who looked into the details, you’ll find that the unanimous verdict is that this was an anccident waiting to happen. If it wouldn’t have been the credit crisis playing part in their fall, every other crisis would have done so, too. Remember, it just took the news about Glitnir being unable to secure new credits to push Landsbanki and Kaupthing into the maelstron, too.

By: RDG

RDG — Sat, 15 Nov 2008 21:55:22 +0000

I have no expertise in anything financial or banking and therefore will not make a comment regarding the situation in Iceland. I,m not qualified to and from what i have read here some others should not either.
However, I will say how unhelpful it is to read comments negitive to the Icelandic people. They are a proud people and ,most, extreamly hard working. They, like the rest of the world are dependant upon Government and, in this case, Banking instituions. A number of individuals have messed up big time and it is they that have to be bought to count.
I,m a Brit living in Iceland and would hope that all those effected by this situation direct their comments to those responcible. My brother and his wife invested heavily here and are in the same situation as many others, but i have never heard an angry comment from either directed towards Iceland or it,s citizens.