I would guess that the media really are not displaying the level of agression and independence that one would see in the UK or USA because Iceland believes itself to be a small place where everyone knows everyone elses business and everyone is honest. (this view may change radically)

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To say more, if you only knew how many icelanders think of themselves of being of a pure race… among other human beings… LETS MIX!! Lets grow together, learn, share, etc… The strongest factor in human evolution is intercultural relations. Icelanders write on paper that was something invented in china, use numbers of arabic origin, learn greek philosophy at the universities, etc, etc,,, still they look down at the rest of the world. They don’t really deserve our help. But lets help this poor (spiritually, intellectually and economically) nation. And lets hope that future generations will learn to be more human. Being a poor country is going to help them gain some humanity. I see the children playing on the street, they are really so lucky, because they will have the opportunity of growing up and become human beings, not something that is between the neanderthal and a nazi concept of racial-cultural purity. Because now that the icelanders have no richness to talk about, and their loosing their jobs, houses, everything, is when they will start to value other things…

i just went to iceland last summer. First of all a amazing country. But now the crise in a way a thing that was clear to happen.
Example – i am a german when i was talking to people about my payment in germany they were just laughing at me and told me that they would npt work a minute for that money.
That made me really pissed.
How the polish were treated i couldnt belive how arrogant icelanders talked about them.
That cars and all what i have seen everything based on credits – what a story.
And now to blame britain for everything. Hey people in Iceland you had a great party now please start to pay for it.
Till now EU was the biggest shit for you and we should get you out of the shit now. Notice also poland and romania are memebers. The people that you treated so nice in your country.

This is by far the dumbest statement i have ever seen written.
I wonder where all the hate foreigners say they get comes from.
there is nothing wrong with wanting to be perfect
and to try to be on top, if you want to be like a broken and beaten dog, its fine by me
we can and will do grate things in the future
its not in our nature (genes) to give up, so dont expect that,
dont expect me to be humble or ask anyone for forgiveness, none of this is my fault
i have lost a lot of money myself for the same reasons as every one else,
the rules all banks operate by need to be changed
the absolute freedom they have had in the past is not something we will see in the future,
but if you need to stumble around in darkness babling some nonsens and blame the Icelandic public for this, feel free

This was a good one. An Icelandic answer will be: satellites are only for Poles.
Since I am not totally Icelandic and embrace the influence of other cultures dear to me, I will say I have internet and I have been around.
I thing the main message here for Icelanders and even other nations marginalized by their government, is to be aware of your environment. It is like shopping without being worried if you have money in your credit card. It will unconscious to keep shopping like that, wouldn’t be?
I believe the same goes with your government. If you don’t have a minimum of interest in the things going on in your country, then you are fulling your self.

Axel >>> “orchafine, who is Saver Jón?”

Jón Asgeirs, in a “propaganda” way, was published 2 weeks ago as a Saver by his Media.
Before 365 and much before Vísir, I was talking about Fréttablaðið, DV, Skjárinn, Stöð 2…, mostly all the Media. In that time, the same Jón owned in his hand the big banks and without any awareness of the citizens.
The government being tide up since 15 years by economic pressures and a large favorable opinion of the “New riches” just played along. As far as I am concerned, it would have been simpler if “Saver Jón” would have been ahead of Iceland.

Bjarni >>>” he and the companies he owns should pay the loans back according to the underlying loan contracts”

What I am trying to show here, is strangely the loans they took in the specific timing allow, per instance Gudmundsson, to take over companies which after owned part of the bank him self. I mean, he and his family don’t they own up to 52% of Landsbanki…?

About Iceland taking DKK, I really would like to see this one happen… Knowing Iceland pride they will prefer to through them self to the see than go back to 1944.

It makes certain amount of sense to switch to either EUR or NOK/DKK, rather than trying to keep the ISK afloat. It is clear that trying to float again the ISK will be very, very expensive, and its not certain it will ever gain full trust again outside Iceland.

Taking up either EUR or NOK/DKK will be very difficult without an explicit support from the respective central banks.

The ECB and the EU are already on record that they will not support this without Iceland joining the EU, and in any case there are number of strict conditions (stability, low deficits, etc.) for taking up EUR, that in the current situation will be almost impossible for Iceland to fulfill.

Taking up or pegging to the Norwegian krona (or the Danish) is definitely an interesting idea. But again this would need support from the respective central banks and their governments.

There are really no good options readily available for Iceland, and in the end this will have to be decided politically by all the governments involved.

We will float the Krona this year, and without any support, ofcourse it will fall
we cant do anything else, lets just hope it finds ballance soon, on its own.

ISK could be a completely valid currency, but for that to happen, the central bank and government would have to act in a responsible way. Judging from inflation (not just the current inflation, but over the years) it seems the central bank has been eager to print money, and the government (you the people…) has been eager to spend it. This is not the way to create a stable currency.

The ultimate currency for Iceland would of course be the gold standard, but I’d guess it is in many ways off-limits and also unpopular amongst the politicians, because they would have to curtail spending. So, the options are EUR, NOK/DKK or continuing with ISK. If the latter is chosen, one should be prepared to see the pendlum swing too far momentarily, just like “Julia set” outlined.

Looking at the prices of real estate in Iceland, I don’t see support for the current exchange rate. The same applies also to e.g. Latvia and Estonia, so you are not alone. If the correction is achieved through floating ISK, the prices might be in line very soon. If ISK is abandoned for EUR, the correction will happen over time, through lower local prices. So the choices are between abrupt and gradual pain.

>>>>What about Bjorgolfur Gudmundsson? I know he invest millions abroad but he got also millions from Icelandic banks…

Just like everyone else that takes on debt, he and the companies he owns should pay the loans back according to the underlying loan contracts. If he does not he and his companies should be declared bankrupt (some of them already have).

The same goes for Jon Asgeir.