World Agenda: is this the most hated man in Iceland?

 

But Thatcherism may not work in a small open community, easily buffeted. It certainly does not work if the control mechanisms are eroded, if one puts friends and economically incompetent political loyalists in key positions; if one forgets to ban insider trading.

Mr Oddsson is a complex figure, and a politically compromised one. The protesters would be happy to put him in the scaffolds and pelt him with tomatoes (if only they were affordable). Easy to understand why.

But then what? The political and economic decision makers on the island are so closely intertwined, by blood and money, that there is no meaningful opposition.

Parliament – the world’s oldest – has been pushed to the margins. You can chase a government out of power and you can purge the directorate of the central bank, you can demand explanations and apologies. But some coherent alternative has to be presented.

How are generations of Icelanders supposed to live with their new debt mountains? How is Iceland supposed to present itself to the world?

From the Times

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