I read the story Iceland, Mired in Debt, Blames Britain for Woes in the New York Times this morning. I’m appalled at what Britain is doing. The government is effectively labeling Iceland as a terrorist state in order to squeeze it for assets in a globally faltering economy. In effect, it’s bullying smaller it’s next door neighbor – but this bullying is in effect bankrupting Iceland.
According to the NYT, almost all cashflow has ceased into Iceland. I’m at least happy that Karen and I continue to have accounts with Eve Online (an MMORPG game that happens to be based in Iceland). It’s not much against the billions they’re talking about in the news, but I’ve got some hope that at least some folks up there will continue to have jobs and support their local economy with the value that I’m getting.
Thanks for the insightful comments! I do realize they claimed control of the assets under the bills from the anti-terrorism law – and the consequence of that, I’m to understand, is that Iceland is being labelled a terrorist state. I certainly don’t think Icelandic banks should be held harmless in this, but the forced asset seizure isn’t making things any better either.