No change

Before David Oddson became Central Bank Governor and after he had been prime minister, he served couple of years as foreign minister.

In the US, those who work for the government or military talk about serving their country. David served his friends, appointing several of them as ambassadors around the globe. One of his harshest critics at the time was Samfylkingin’s Ingibjorg Solrun Gisladottir, who is now foreign minister herself.

Who yesterday, in the worst time ever to make political gaffe’s appointed her friend an ambassador.

Probably counting on no change coming to Iceland.

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Glitnir is being sued in London by 18 banks, including DZ bank and Loyds TSB because of a loan of 150 million pounds it failed to repay.

Adding to the 47 million pound lawsuit Sumitomo Mitsui, Bayerische Landesbank and Nordbank have filed already.

It would have been interesting to see Glitnir keep going without being nationalized.

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Jon Asgeir Johannesson is officially the biggest bully in school. He has now threatened Samfylkingin’s Agust Olafur Agustsson with a lawsuit after Agust requested information about how Jon Asgeir managed to finance the purchase of almost every media outlet in the country a couple of weeks ago while reportedly in world-record debt. Jon Asgeir cites a law about bank-secrecy. Agust should remind him of parliamentary immunity.

Funnily enough, Samfylkingin has for years been accused of being financed by Jon Asgeir.

The bank behind the whole deal, of course the Al-Queda of the financial world, Landsbankinn.

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Lets do like the government and pretend there is no urgency about the IMF loan.

Lets just read this article in the Financial Times where Jon Danielsson, LSE Economist is quoted;

The ability of Iceland to make good on its obligations is dependent on the strength of its economy. Since international aid, from the International Monetary Fund and other government bodies, appears to be conditional on settlement with the UK and the Netherlands, it is likely that Iceland will be forced to accept those demands, even if the legal issues are unclear. Unfortunately, a settlement along the lines demanded by the creditors would likely lead to a national bankruptcy.”

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