Whats happening in Iceland?
Iceland’s Ex-Prime Minister Goes On Trial Over Financial Crisis
The trial of former Iceland Prime Minister Geir Haarde, charged with negligence over his handling of the 2008 financial crisis, has begun in Reykjavik.
Haarde, 60, is thought to be the world’s first politician to face criminal charges over the crisis, and faces up to two years in prison if found guilty, according to The Financial Times.
Brilliant! Iceland forgives mortgage debt of its population
The government of Iceland has forgiven the mortgage debt for much of its population. This nation chose a very different way of stopping the crisis from the rest of European countries. It decided to hear the requests of the population and to put politicians and bankers on the bench of the accused three years after their financial excesses would sank one of the most prosperous economies in 2008.
Since 2008 the country’s banks have forgiven 13 percent of the country’s debts
Iceland’s journey from teetering on the edge of disaster in 2008 to a relative stability — and above average growth — has a lot of lessons, which we’ve covered before.
Since 2008 the country’s banks have forgiven 13 percent of the country’s debts, which in turn has eased the burdon for more than 25 percent of the country’s population.
“You could safely say that Iceland holds the world record in household debt relief,” Lars Christensen, chief emerging markets economist at Danske Bank A/S in Copenhagen, told Bloomberg. “Iceland followed the textbook example of what is required in a crisis. Any economist would agree with that.”
three great examples of how your countries debt problems should be dealt with..fuck the IMF and world bank..fuck the ECB and EU..fix it yourselves and put the liars and thieves on trial..