Dear Kitty. Some blog

October 5, 2008

Economic crisis hits Iceland [Economic, social, trade union, etc., Birds] — Administrator @ 11:30 am


This is a video about birds in Tjornin pond in Reykjavik, Iceland, in winter.

From British weekly The Observer:

Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland’s currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan. One of the country’s three independent banks has been nationalised, another is asking customers for money, and the discredited government and officials from the central bank have been huddled behind closed doors for three days with still no sign of a plan. International banks won’t send any more money and supplies of foreign currency are running out.

People talk about whether a new emergency unity government is needed and if the EU would fast-track the country to membership. On Friday the queues at the banks were huge, as people moved savings into the most secure accounts. Yesterday people were buying up supplies of olive oil and pasta after a supermarket spokesman announced on Friday night that they had no means of paying the foreign currency advances needed to import more foodstuffs.

Update 8 October 2008: here.

1 Comment »

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  1. Posted by: “frankofbos” FrankOfBos@yahoo.com

    Sat Oct 4, 2008 11:12 am (PDT)

    Top Biz Profs:Bush Fiscal Failure”so extreme…unimaginable just a few
    years ago
    Top Biz Profs:Bush Economic Failure “so extreme … unimaginable just a
    few years ago”- Bush History,10/4

    The nation’s top business school professors urge President Bush to
    change his fiscal policies, pointing out that Bush’s economic failure
    is “so extreme that it would have been unimaginable just a few years
    ago.” Also, another Bush insider comes forward to say that his plea for
    more troops in Iraq was ignored, causing years of death and violence.
    And a top-5 Bushism for absolute weirdness

    http://poorgeorgesalmanac.com/?p=586

    Poor George’s Almanac: 365 Reasons to Fight Against McBush’s 3rd Term!

    Today’s categories: Bushisms, Deficit Mismanagement, Ignoring Experts,
    Iraq, Proven Wrong, The Millionaire’s Ally

    Comment by Administrator — October 5, 2008 @ 12:22 pm

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