Iceland didn't end with no bailout

[TexasDevilDog]

Iceland's president, Olafur Grimsson, irritated EU officials last month when he said his country was recovering faster because it had refused to bail out creditors – mostly foreigners.

"The difference is that in Iceland we allowed the banks to fail. These were private banks and we didn't pump money into them in order to keep them going; the state should not shoulder the responsibility," he said.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8187476/Iceland-offers-risky-temptation-for-Ireland-as-recession-ends.html

[mr tinfoil hat]

And that's how it should be. Fuck these private banks and the bullshit games they run on the people.

[Denny]

The EU will soon go to war with Iceland.

[The King]

This is an example of why no stimulus spending should ever have been undertaken by the U.S. All we got in return is a massive federal deficit increase with little or no proof that the stimulus had any lasting postive impact at all on our economy.

[BP]

I agree that the bailouts here were a crock but we are talking about a country with a population of 300k. Fort Worth is nearly double that! Obama spent more on vacations last year than their entire GDP. Heck NYC pays out more in pensions than Icelands entire deficit.

[SlowLX]

The EU will soon go to war with Iceland.

The EU will soon go bankrupt or dissolve when Germany gets tired of letting their economy carry the rest of western Europe.

[Strychnine]

The EU will soon go bankrupt or dissolve when Germany gets tired of letting their economy carry the rest of western Europe.

http://www.marketwatch.com/story/issing-repents-says-euro-may-fall-apart-2011-01-10

[Sean88gt]

http://www.marketwatch.com/story/iss...art-2011-01-10

Hopefully the euro serves as a warning to the rest of the world that the strong will be forced to carry the shitbags. Just like welfare.

[SlowLX]

http://www.marketwatch.com/story/iss...art-2011-01-10

Deepdown Germany has ALWAYS been pro deutschland first and pro union second. They were starting to show signs of wanting to breakaway economically even before the debacles in Greece, Ireland, and Iberia. I'm sure there's still a little bit of distrust of having the rest of Europe being tied in with their economy ingrained in their economic genetics after having their economy fucked up Post WW I and Post Weimar as well.