Post by Jaga on Jan 23, 2009 23:05:53 GMT -7
at least it is warm there in the middle of winter - see the picture
The heat is onIceland's government is on the point of collapse as angry protesters stake out the parliament in Reykjavik
www.guardian.co.uk/commentisfree/2009/jan/21/iceland-globalrecession/print
While Barack Obama was being sworn in to office on Capitol Hill yesterday, the people of Iceland were starting the first revolution in the history of the republic. The word "revolution" might sound a bit of an overstatement, but given the calm temperament that usually prevails in Icelandic politics, the unfolding events represent, at the very least, a revolution in political activism.
Four months after the collapse of Iceland's entire financial system, no one has accepted any responsibility. Our currency has lost more than half its value, rampant inflation has already eaten up most people's savings, property values have dropped by more than a third and unemployment is reaching levels never seen before in the life of our young republic. The fault is clearly shared between the business elite and the government, which failed to regulate the newly privatised financial sector, allowing a few incompetent and egotistical business tycoons to gamble with the nation's fortune. And yet neither the government nor the bankers – who, by the way, seem to have disappeared into the cold thin air – see anything wrong with their own behaviour.
The governor of the central bank blames the risk-seeking bankers, the bankers blame the government and the prime minister attributes the whole crisis to the international credit crunch. This lack of any sense of responsibility has angered the Icelandic public to the extent that they have turned to the streets in greater numbers than ever before.
It started in October with peaceful demonstrations. Then the frustration grew, first with the lack of any sense of responsibility, then with the lack of any effective action to ease the economic pain most people feel – and finally with the sense that all the political elite were incompetent.
The heat is onIceland's government is on the point of collapse as angry protesters stake out the parliament in Reykjavik
www.guardian.co.uk/commentisfree/2009/jan/21/iceland-globalrecession/print
While Barack Obama was being sworn in to office on Capitol Hill yesterday, the people of Iceland were starting the first revolution in the history of the republic. The word "revolution" might sound a bit of an overstatement, but given the calm temperament that usually prevails in Icelandic politics, the unfolding events represent, at the very least, a revolution in political activism.
Four months after the collapse of Iceland's entire financial system, no one has accepted any responsibility. Our currency has lost more than half its value, rampant inflation has already eaten up most people's savings, property values have dropped by more than a third and unemployment is reaching levels never seen before in the life of our young republic. The fault is clearly shared between the business elite and the government, which failed to regulate the newly privatised financial sector, allowing a few incompetent and egotistical business tycoons to gamble with the nation's fortune. And yet neither the government nor the bankers – who, by the way, seem to have disappeared into the cold thin air – see anything wrong with their own behaviour.
The governor of the central bank blames the risk-seeking bankers, the bankers blame the government and the prime minister attributes the whole crisis to the international credit crunch. This lack of any sense of responsibility has angered the Icelandic public to the extent that they have turned to the streets in greater numbers than ever before.
It started in October with peaceful demonstrations. Then the frustration grew, first with the lack of any sense of responsibility, then with the lack of any effective action to ease the economic pain most people feel – and finally with the sense that all the political elite were incompetent.