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Icelandic terrorists



By Paul Nathan

I’m behind Iceland 101% – or at least the vast majority of decent hardworking citizens that form the bedrock of the country – and it sickens me to see the growing exodus of people.

Having fashioned the nation out of adversity, this modern day calamity is not the usual Act of God, but more like many acts of Godliness – dishonesty and greed – brought upon the people by a minority of criminals, who have succeeded in ‘terrorising’ their own people.

Gordon Brown should never have inherited the top job in the UK, and should never have deployed anti-terrorism legislation against a nation of farmers, fishermen, and more recently bankers, but he did so out of necessity.

No one thought for a moment there was an Icelandic version Al Qaeda plotting away, but the reality was that it was done out of expediency.  It would have taken too long to pass a mandate through the British parliament, in order to stop the massive outflows of currency. 

Anyone reading any media anywhere knows, a small bunch of criminals were operating the Robin Hood principle in reverse.  Cleaning out as many organisations of their assets, equity and savings, and shipping them abroad as fast as they could before the ultimate collapse.

Rather than moaning about the United States & Britain, and marching on the British Parliament to proclaim the obvious, it’s about time Icelanders confronted their own demons and focussed on the core issue.  The acute problem was caused by a few rogue Icelanders.

Naturally, its hurtful to be labelled a terrorist, but all the charities, councils, and hospitals who have lost everything, would happily be called anything, if it could bring back years of their work, prevent a horrible future, and stave off bankruptcy and consequential deaths.

So who are the real terrorists?

The intellectual terrorists who inhabit the Independence Party, were given jobs at birth, and have no remorse for the emotional and financial carnage they’ve caused?

The financial terrorists who have drained their country dry, as well as many others, and still have the temerity to address the nation, proclaiming their innocence?

The great tragedy is that apart from all the tangible destruction, there are much greater reverberations, such as all the damage in confidence and trust to a hitherto impeccable reputation, and the incalculable damage to the very fragile fabric of society.

Iceland needs to focus on dealing with the domestic terrorism confronting it every day.


The devalued Prime Minister of a devalued Government

You would think that Icelandic MP’s would have had the guts to stand up to the architects of the ruin in this manner now that this country is in a worse shape than the UK. 

But they won’t. Instead, foreign minister Ossur Skarphedinsson has decided to hand Valgerdur Sverrisdottir a position as a leader of new council on international development.  This is on the same weekend that Morgunbladid publishes its findings on the privatization of the banks when Valgerdur was Minister of Commerce and states that the whole thing was designed to get the banks into the hands of people loyal to the Independent Party and Valgerdur’s Progressive Party.

It should be noted that Ossur Skarphedinsson is in the Alliance Party, a rival political party. Aren’t there any qualified people within his own ranks? The position is unpaid but it would look good on the CV of a quite a few people. Besides, isn’t it odd to hand such a prestigious position to a person who was instrumental in privatizing the banks and then sat herself on the board of Gift, a company most people didn’t know existed anymore but was an investor for the group that got the banks? A business that used to be an insurance company that people thought had folded but had billions to spend in money from its customers, who were the rightful sharholders. Money that bought the large owners of Kaupthing like Olafur Olafsson, the Exista brothers and Kristjan Loftsson, the one whose interests in whaling are more important than the nation’s reputation, their way into billionaire heaven. 

The question is, why don’t the Alliance Party, Left Greens, Progressive Party and Independent Party just form a single party? Or are the Icelandic political parties just like the shell companies that the banks created to hike up the value in their own stock, all the same but different in the name just for show?

SPRON customers safe as bank buckles under Baugur & CB press release

According to sources, the transfer of all customer funds and loans from SPRON to New Kaupthing has now been completed. All assets are fully insured according to law.

SPRON debit and credit cards will continue to work and SPRON customers will have continued access to their online banking services for the next few days until their access to Kaupthing internet banking has been set up.

From Ice News

Today the FME has intervened in the operations of SPRON and Sparisjódabankinn on the basis of the Act on Authorisation for Treasury Disbursements due to Unusual Financial Market Circumstances, no. 125/2008.

Press release from the Central Bank of Iceland regarding the restructuring of Iceland’s savings and loans.

Joke of the day

The Left Green party wants to abolish the price-indexation, “when Iceland has reached financial stability”!

Good one. 

Next on their list of campaign promises is a sunny day…sometime.

Newcastle United owed £225,000 by Baugur

The “Notice of statement of affairs” document shows that Baugur took the box at St James’ Park on a two-season basis. The £225,000 owed would have been higher but the company agreed to a “payment plan” at an unspecified point in the past and around £40,000 was paid down.

From The Telegraph

Icelanders: A SECOND WAVE

Hard times have hit Iceland, as they did in 1875. And as they did in 1875, Icelanders are looking to Manitoba for a better life.


Recently, about 500 people attended a seminar in Reykjavik, put on by the Icelandic Directorate of Labour and the Canadian Embassy. The topic was on a recent agreement regarding work opportunities for Icelanders in Manitoba, and on temporary work permits and permanent-resident permits in Canada.


“I’ll take anything that’s on offer,” said Ragnheidur Gunnarsdottir, a single mother of three children, who has a degree in commerce. She last worked as a hair stylist, has been unemployed since last fall and hopes she will get a job in Manitoba. “I’m ready to go anytime,” she said.

From the Winnipeg Free Press

At least Iceland’s rich in talent


Then M.E.G.A. surprised me by asking what people thought of his country — he was wondering if people viewed Iceland as a punch line .


“We had so many positive things to write about. Suddenly all we had was bad news,” Georg said.

The economic crises had at least one silver lining for Sprengjuhollin.

After we spent an hour talking about the Icelandic economy over drinks and snacks, I picked up the tab, figuring I could expense it under “Icelandic economic bailout.”

From the Statesman