Iceland ROCKS mortgage debt!

Spacedog

Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger.

ROCK!

Mr Benevolent

Sausages.

That is all.

Spacedog

Lets throw sausages at the Dail until we get free rashers!

Dyr

Oh those silly naive icelanders, with their demands. They don't understand economics like us Irish do :pac:

candycock

Spacedog wrote: »

Lets throw sausages at the Dail until we get free rashers!

or free cheese....

44leto

A bollox story as an example to us or the Euro zone. Their economy is only 13billion in size and their is only 300,000 living on that Island.

Our health system costs 21 billion.

Iceland is the equivalent of cork city but with the whole island of Ireland to draw resources from. Their is no economic comparison.

LuckyLloyd

Housing, measured as a subcomponent in the consumer price index, is now only about 3 percent below values in September 2008, just before the collapse

Let's see how they're getting on in five years time...

Duggy747

44leto wrote: »

A bollox story as an example to us or the Euro zone. Their economy is only 13billion in size and their is only 300,000 living on that Island.

Our health system costs 21 billion.

Iceland is the equivalent of cork city but with the whole island of Ireland to draw resources from. Their is no economic comparison.

Still isn't going to stop people posting this up on Facebook involving the words "WAKE UP!!", "SHEEPLE!", or something along the lines of "Why isn't Ireland doing this!?!"

Doc Ruby

44leto wrote: »

A bollox story as an example to us or the Euro zone. Their economy is only 13billion in size and their is only 300,000 living on that Island.

Our health system costs 21 billion.

Iceland is the equivalent of cork city but with the whole island of Ireland to draw resources from. Their is no economic comparison.

That's not the whole story though. They got their mortgage forgiveness alright but they had to put capital controls on the country first before devaluing the whole lot.

What that means is you couldn't get your money out of the country, then your money became worth half as much. It punished those who saved carefully and rewarded those who borrowed foolishly.

Dempsey

The benefits of not being in the Eurozone...

Zebra3

People Vs Markets

Iceland’s approach to dealing with the meltdown has put the needs of its population ahead of the markets at every turn.

Wow, imagine doing something so revolutionary.... :rolleyes: