Icelandic Economy: Making sense of the unintelligible
By: Alëx, IceNews editor
http://www.icenews.is/2008/11/12/icelandic-economy-making-sense-of-the-unintelligible/
November 12, 2008
The idea that the current stable and experienced government should be allowed to sort out the problem and get the country on its feet again before anyone even thinks about elections is a theoretically sensible idea that most people agreed with to a point. But pressure is undoubtedly building with each passing day for a fresh start sooner rather than laterTalking of fresh starts: a principal reason for Iceland securing loans worth USD 6 billion is to provide substantial foreign currency reserves to support the Icelandic krona when it is refloated on international markets in the near
future. Iceland’s currency absolutely needs to have a decent level of value and stability at whatever cost in order for the country to get back on its feet again.
I think the Iceland’s President is spot on about inviting Russia to Keflavik. That would teach Iceland’s fair weathered allies a lesson that they will never forget. Maybe on the surface it looks like a good wind up for the NATO allies but
essentially the President has lost the plot (actually he never had the plot). He played this card when most sensible people had dismissed it as a black joke ages ago. The card has no value because the Russians can not come, even if they wanted to and even if Icelanders rolled out the red carpet. It would be regarded by NATO as an act of serious aggression and Russia is not ready to confront an “ultimatum” to stand down.The stupidity of the President became more glaring when he played this worthless card after berating his Scandanavian hosts. It was all very embarrassing pantomime for Iceland´s diplomacy.
http://www.icenews.is/2008/11/12/icelandic-economy-making-sense-of-the-unintelligible/
November 12, 2008
The idea that the current stable and experienced government should be allowed to sort out the problem and get the country on its feet again before anyone even thinks about elections is a theoretically sensible idea that most people agreed with to a point. But pressure is undoubtedly building with each passing day for a fresh start sooner rather than laterTalking of fresh starts: a principal reason for Iceland securing loans worth USD 6 billion is to provide substantial foreign currency reserves to support the Icelandic krona when it is refloated on international markets in the near
future. Iceland’s currency absolutely needs to have a decent level of value and stability at whatever cost in order for the country to get back on its feet again.
I think the Iceland’s President is spot on about inviting Russia to Keflavik. That would teach Iceland’s fair weathered allies a lesson that they will never forget. Maybe on the surface it looks like a good wind up for the NATO allies but
essentially the President has lost the plot (actually he never had the plot). He played this card when most sensible people had dismissed it as a black joke ages ago. The card has no value because the Russians can not come, even if they wanted to and even if Icelanders rolled out the red carpet. It would be regarded by NATO as an act of serious aggression and Russia is not ready to confront an “ultimatum” to stand down.The stupidity of the President became more glaring when he played this worthless card after berating his Scandanavian hosts. It was all very embarrassing pantomime for Iceland´s diplomacy.