This place is crawling with foreign media at the moment and many, it seems, are looking for drama: the destitute banker sitting on a curb in his pinstriped suit, the family with ten children that has lost everything in the bank collapse and doesn’t know how they’re going to survive, stooped people waiting in line outside supermarkets that are empty of food.
Instead they’re finding that life here is pretty much as it always was. Things cost the same as they did two weeks ago. Gas went up by about ten kronur at the pumps last week, then went back down again. Supermarkets are stocked with food – foreign and domestic. And while the inevitable fallout is already upon us with the accompanying job losses and whatnot, Icelanders are dealing with this whole economic collapse with a surprising amount of equanimity.
Last week was definitely crazy. There was so much information coming at us every hour of every day that it was a full time job just to process it. For many of us it was like an immersion course in global economics. Unsurprisingly, productivity plummeted and workplaces more or less came to a standstill. Nobody really knew what was going to happen in the next hour or the next day so keeping the wheels turning was difficult. Everyone was talking about the crisis, checking the internet, listening to the latest on the news. Hungry for information.
I came across an article in The Times [I think] a couple of days ago in which the reporter was going on about how the only people smiling in Reykjavík now were the tourists. That is a complete misrepresentation and in line with the sensationalist tone I’m observing in a lot of the foreign media. Yes, certainly people here are walking around with a more serious expression than often before, but nobody is freaking out and literally everybody I have talked to is optimistic for the future. In fact many people feel that what is happening is a Very Good Thing. I went to my hairdresser’s on Friday and she talked about how pleased she is about what’s happening – that the greed and envy and full-out derangement that has characterized our society for the past few years is disappearing. And this despite her car payments having doubled on account of having a loan in a foreign currency. In her words, “I can’t wait for Christmas this year … fewer presents, less stress, and people just enjoying being together and nurturing each other. Cultivating what really matters.”
Cultivating what really matters. A return to basic values. That’s the prevailing emphasis around here these days and yes, it is a Very Good Thing. A few short weeks ago the media was still glorifying our “Tycoons” and doing features on people who decorated their massive concrete homes with cold fixtures and soulless minimalist furniture. What we get now is stories of people sticking together, helping each other, like the Glitnir employees who on Friday met outside in the bank’s parking lot for a massive group hug, or the husband and wife who both worked for Landsbanki and both lost their jobs on the same day … but one of them was quickly re-hired so the family would have at least one breadwinner. Newspapers urge people to be careful of what they say around children and the elderly, and a front-page headline in Morgunblaðið on Saturday read: “The psychiatric ward is not inundated” – contradicting a report a week earlier that the psychiatric ward at the National Hospital could hardly cope with the influx of new admissions.
While many media outlets only focus on the gloomy aspect of what’s happening here in Niceland, I find it almost impossible to list all the good, positive things that are happening. Education authorities are making sure children have a secure place in the preschools even if their parents default on payments. A crisis committee is being set up to help people who have lost their jobs. Mortgages are all being taken over by the state’s Housing Financing Fund and those who can’t make mortgage payments can apply to have them halted for the time being. People are being urged to come out and talk about their job losses and even their financial difficulties, because it will help them and others – the message being that there’s no shame in it, ESPECIALLY not now. I could go on.
Many MANY people talk about the exciting times ahead – that’s we’re on the brink of building a new society and that this constitutes a wealth of exciting opportunities. We have good, solid resources: fish in the sea, heat in the ground, copious amounts of energy, a beautiful country with myriad opportunities in tourism, and an excellent workforce: a nation of well-educated and hard working people, many of whom are now out of work and who can use their expertise to help rebuild our economy and much of the infrastructure. After all, this is not the worst that we have endured: on two or three occasions in the past the Icelandic nation has been close to being wiped out by calamities much worse than this, such as volcanic eruptions and the bubonic plague.
This is not to minimize the difficulties that some people are dealing with, particularly in the short-term. It’s probably hardest for those who have lost their jobs, who have mortgages or loans in foreign currencies, and people currently studying abroad, who cannot even transfer money from here [as foreign currency transfers have been temporarily suspended] and may have run out of funds. It’s also a bit of a pain for those travelling abroad who want to buy foreign currency at the bank but have found there is a limit and they have to show a ticket to prove they’re going abroad [this is what it was like here 20 years ago, so there is a certain element of nostalgia!]. Yet on the whole, we’re survivors up here. We have a good sense of humour, a healthy dose of unconcern, and we get on with things – without much drama.
AND IT’S ALL BECAUSE OF THE WEATHER
I do think a lot of the Icelanders’ resilience can be traced to the weather – in fact, one of our most common idioms to describe adversity is þegar á móti blæs, which literally means “when the wind is blowing against us”. We’re used to just putting our head down and forging ahead, no matter what. We have a bit of wind today [not TOO much] and overcast skies, temps are 6°C [43F]. The sun came up at 8.13 this morning, will go down at 6.13 pm.
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Hooray for Iceland! I’ve just booked another holiday in Iceland next year, I can’t wait. Just the thought of coming back soothes my mind. It’s a very special place.
Simplifying would be a good thing for America, too!
Apparently the planet is still turning on its axis. I guess the important things are still going on. Maybe Louis Armstrong was right! It is a Wonderful World!
That’s a nice description how the people handle the things here. Or as colleagues said: Last weekend was a good time to go to a summerhouse (as we did).
As things deteriorate in the UK, all we have to look forward to is more crime, more violence, more people homeless and begging, and more empty shops on the High St (already happening).
Being a small, independent community creates a sense of “all in it together”, and of that I’m quite jealous! You’ve only had naked consumerism for about 8 years – there’s time for healing. Here, it’s been 30 years up and down, and it’s every man for himself. And I’m old enough to remember the UK at the door of the IMF!
Much as I don’t wish your currency to fall any further, if it does then I may be able to afford a visit!! Where was that bar Damon Albarn used to own again…??!!!
I’m really happy to read this. Maybe this will make Iceland’s politicians think about the concept of sustainable growth. Things will not sort out themselves though. I advise Iceland to seek a reliable friend to get them through the current mess with as little hardship for Iceland’s citizens as possible.
Just so you know it. Iceland is not alone in its desperate financial situation. Many more countries (other than the all too obvious Zimbabwe) are suffering too. Pakistan, South-Korea, Estonia, Italy, …
Courage and a better PM!
I really envy the Icelander’s their optimism. Optimism is the best, because it makes life so much more bearable and enjoyable. I’m the same way when stressful things happen in my life. I focus on the positives and accept the negatives. But for some reason most people thrive on drama and tragedy, especially when they are reading about others, whether it be in fiction or the news, whether it be in a book, movie, or TV show. That probably explains all the foreign media trying to capture the Icelandic society crumbling… too many people love schadenfreude. Whenever my dad stubs his toe, his mood is ruined for the entire day. That’s what taught me to be optimistic… he would waste his entire day on one little insignificant discomfort. When I stub toe I don’t get all that upset, ’cause I know that the moment right after stubbing my toe is the longest time I’ll have before I stub my toe again. I don’t know if my logic is coming through here, but it’s basically that it’s inevitable that you will stub your toe sometimes, and when your toe is stubbed you know the next toe-stubbing won’t be due for awhile. That same logic is applicable to so many things in our lives that stress us out or upset us. That way you free up your brain and energy resources to deal with truly stressful situations such as losing your job or the death or sickness of a loved one.
This is exactly what I’ve been trying to tell my friends & family back home in the U.S. My Icelandic boyfriend and I went out on Saturday to find that Kringlan, Laugarvegur, and all the coffee shops were as busy as ever (with Icelanders and NOT just tourists).
Of course some of my friends and family are excited about this “crisis” because they assume it means that I’m automatically moving back. As is life has simply become unsustainable on this little island. It’s a shame that the media hasn’t interviewed real Icelanders on the street to get the real perspective. Of course, that wouldn’t sell newspapers now, would it?
There’s something in the notion that crisis is a true measure of character.
Takk fyrir! happy to read your words! great to get some insight beside the media rush!
Excellent post.
I’ve been wondering about all the things you brought up in this post. What a shame the foreign media is presenting such an inaccurate picture.
But not surprising.
What a great post. It’s typical of the media (at least this is what we’ve seen in the US) to exploit a situation for some attention.
I have always admired the positive attitudes of the Icelandic people that I’ve been fortunate to know, and it’s like a breath of fresh air sometimes. So, kudos to you for keeping your cool and not letting it break people down.
I hope that other countries, like the US will also learn a valuable lesson in all of this, like you said, “cultivating what really matters.”
It seems as if the news media is the only ‘running scared’ entity in Niceland! We are having the same thing here in the U.S. But our gas prices have come down about $1.50 in the last month or so and the US dollar is up vis-a-vis the Euro and the British pound.
If we all keep our heads, we’ll all (the world economies) come out of this mess stronger and have better basic mindsets. I really do think we (the US) need more regulation over some of these free-wheeling sectors.
I’ve been reading all your posts about the current economic crisis and have felt nothing but empathy for the people of Iceland.
Here in the UK, I get the feeling that our media is very good at sensationalizing the latest stories, and it’s no wonder that people are getting the wrong impression of what is really happening.
Me and my husband will be travelling to Iceland on Wednesday and we’re thoroughly looking forward to it.
Proof that the media has caused an unnecessary stir… I was in the secondhand bookshop at the weekend buying a Scandinavian cookbook. The person behind the counter wondered whether there were any Icelandic recipes in the book, when we mentioned that we were going to Iceland in a couple of days, he said, “Oh I hope they don’t take a disliking to you when you’re there”. Maybe it was just a little joke but nevertheless, I thought it an absurd comment to make!
Then today, we needed to change some of our pounds into krona, little did I know it would be so difficult! It had never been a problem before. At least three banks and two bureaux de change no longer had it – something to do with ‘restrictions’, they said.
It’s definitely gone crazy over here and I blame the television!
Amen, sister. I couldn’t agree with you more. Let’s ignore the fearmongers and go on with our lives. Like everything in life, this will pass. I like Trevor’s comments about toe stubbing and attitudes. No one can ever repossess our optimism or freeze our determination!
I think we all have to become more aware that the best things in life are free? Didn’t Iceland suffer from the Spanish flu epidemic in winter of 1918?
wow. a country that knows what is REALLY important and valuable. as if i didn’t have enough reasons to be madly in love with your fair island, y’all pull this one out of a hat and i am in love all over again!
one day, i’ll be back to continue this passionate affair (soon, i hope.)
austin, texas
ps. vote Obama in ’08!
Thank you everyone! Great to have your input, as always.
Let us just hope that this buoyant spirit continues throughout the difficulties that lie ahead while we get ourselves back on track. :-/
Brilliant to hear an honest view of the mood of Icelanders at the moment. It is incredible how the UK press has turned hostile when Gordon Brown’s actions have been purely political in nature, and nothing to do with reality.
That said, there was probably a great reason why Kaupthing and Landsbanki targeted UK customers and businesses – the British are all suckers and are easily swayed to what looked like a win-win deal with high interest accounts, easily accessed.
Yeah it’s so strange, living here and reading the foreign press… they’re making it out like we’re about to resort to cannibalism or something.
I went to Bonus the other day and stocked up on a month’s worth of dry food – soup, pasta, the works – and the kids working there looked at me like I was nuts. Maybe they know something I don’t?
I do believe reading the foreign press about Iceland is the wrong move – the UK HATES Iceland because (1) they never forgave Iceland for The Cod Wars of the 1970′s and (2) they resent Iceland buying up all the British High Street over the last 10 years. Odd that Philip Green, who Baugur f’d over in the early part of this decade, is now buying up Baugur’s stuff, isn’t it?
I’m very glad to hear Iceland is doing just fine, considering. I really enjoy your great stories, about holiday festivities, traditions and the like. Also, your photos are spectacular! This is truly a country I have come to love from afar (U.S.) and I hope someday to make it up there to take in the beauty first-hand. Keep up the great blogging!
I don’t mean to be rude (since I like your blog very much) but it is this sort of blind optimism that got Iceland into trouble in the first place. This cheeriness reminds me of the scene in Monty Python where Jesus and his fellow cross-sacrificees break out into a chorus of “Always Look On the Bright Side of Life.”
You have enough money — for now. You have 2.5 billion of Central Bank foreign currency reserves, the pension fund investments abroad, and the fish money. But when that runs out you will sail down the cliff. You have no friends, no allies, no one who will loan you money. (A Copenhagen newspaper reported that David Oddsson was lying about the Russian loan.) Your kinsmen the Norwegians do not like you for causing them financial losses and for playing footsy with their ogre-enemy to the East. The Danes think you are liars and fools. The IMF is not your friend either. They will take away the power plants and part of the fishing and give it to their multinational corporation backers. Social-welfare spending will be drastically slashed. Sure, the EU will take you then but you will still have the IMF restrictions, the loss of fishing grounds, and the debt.
The debt — I neglected to mention the debt. One source says it will be $37 million pounds, or $115,000 per Icelander. http://marketoracle.co.uk/Article6749.html . That’s the estimated difference between the sale of bank assets and the payout of debt. Before the crisis, if all the bank assets had been sold at fair-market value, the banks might even have had a surplus of, say, 10-15 billion. But now the value of the assets has gone down with the rest of the world market. And Iceland must sell them in a hurry. And everyone knows Iceland is desperate and so they will bargain hard over the price.
The “law” won’t help you either. In theory by declaring receivership of the banks, the Iceland government could have stopped creditors from seizing the bank assets and the assets could have sold off in an orderly manner and the creditors would have been forced to take a loss in order to get any of their money back, in accordance with the priority rules of bankruptcy laws. And the bankruptcy proceeding could have taken place in Iceland, where Icelandic judges could have favored native Icelandic interests. But guess what — when times get tough, nobody cares about the law. Each country that has banks or pensions funds owed money by the Icelandic banks will seize any and all Icelandic assets located in their country. That has already occurred in Britain and Norway, and in Britain using the ridiculous pretext of anti-terrorism legislation. Oh, you don’t like that? Who are you going to complain to? There is no effective pan-European judge, except for a toothless EU court. Are you Icelanders going to sue each of the countries in their own courts? Good luck with that. Slick Jon Asgeir versus the pensioners of Brighton or the cancer-funds of Hartlepool, who do you think will win?
Maybe Iceland could bargain hard and threaten to seize the assets in Iceland of the other countries who are bullying them. Wait a minute — there are no assets to seize. Maybe they can get their friends to help bully the bullyers – oops, I forgot, Iceland doesn’t have any friends.
I am not unsympathetic to the Icelanders. In fact I feel very, very sorry for them. I lived in Iceland for a year and a half and found most of them to be very nice people (when they weren’t jumping up and down on the chair and yelling, Afram – Island, we’re number one.) What has — and will happen — to them is extremely unfair. The people as a whole bear no responsibility for the reckless behavior of the bankers. Nor should they be responsible under international law and the laws of corporations and bankruptcy.
Among the many, many mistakes the most serious made by the Icelandic government was of course allowing the deregulation of banks to begin with. But another is sadder because it could so easily have been prevented. The government should have established the banks as limited liability corporation registered in Iceland and operating under Icelandic law but otherwise independent of the Icelandic central bank. A Cayman Islands type of arrangement. This would have set up a fire-wall around the banks. A dull-witted lawyer could have drafted such laws in a few days.
Right now Iceland should send those few Icelanders with any credibility left on a mercy-mission to Copenhagen to beg, plead and cajole the Danes to send banking and bankuptcy law lawyers to come help them. After that, in few years, they should have a national referendum to become a colony of Norway and fix the vote at 95% and hope and pray that the Norwegians take them, as the West Germans took the poor Ossies. Unfortunately, the Icelanders are not capable of running their their own affairs and operating as an independent country, as events have sadly shown.
Until then, the Icelanders will have to sit around unemployed in their big warmly-heated concrete houses filled with modern furniture eating nothing but lamb and sormjolk and cabbage and riding their bicycles to the next group-hug.
^^ sounded quite rude to me.
Also what garpur fails to acknowledge is the resources of the Icelanders themselves. If there’s a nation around less likely to sit around waiting for handouts than Iceland I can’t think of it. I’m quite sure Iceland as a nation will pull its collective finger out and get on with dealing the wreckage from the current crisis in an exemplary way. And Alda, I think you must be due a Falcon, Grand Cross for all your good work over this period.
Rick – I don’t think Landsbanki and Kaupthing had any such motive in mind when they ‘targeted UK customers’ – it just so happens that the UK is one of our closest neighbours geographically and in terms of a mindset, so it made sense to open branches there. They also did so in Holland and the Nordic countries.
Lost – last I heard, Philip Green wasn’t buying up Baugur’s stuff. His bid was too low and was rejected.
FrankC – thank you!
garpur – I got to the ‘Iceland has no friends’ part and stopped reading. Your comment is there for others to view at their discretion.
trev – yah.
jpeeps – thankyouverymuch.
Hey Alda, I think that you have given a true account of what the current mood amongst the everyday Jón and Gunna. It certainly reflects my view on the current situation. Garpur with his “though art doomed and deserve it” gospel is unfortunately a reflection of the cynicism that is so prevalent in our neighbours and cousins and thankfully something that we are not subscribing too. I think that 2009 will be a good year for Iceland, only good will come from thinking and acting positively.
If you get a price level foreigners can afford, you will get even moe prosperous than you were before this crisis.
The heart of the problem is your central bank. Floating exchange rates are essentially unsound but the problem of floating exchange rates are especially obvious for small countries like Iceland.
Flavian, the prices are here already
And yes, the problem definitely is our central bank! The Brown/Darling thing also acts as a scapegoat here, they definitely didn’t help, but neither were they the main reason for the collapse. Now everyone here hates them, instead of laying the blame where it mainly belongs, with Davíð, Halldór, Geir and those bloody “útrásarvíkingar”
Garpur, wrong, this actually is a totally different mindset, people are facing raised taxes and harder living, but still not giving up, after all things could be worse, we could be having world plague and people dying all over the place. We – nor indeed the rest of the western world – won’t be enjoying the same standard of living, and there are actually quite a few of us that think this is a good thing, people getting less materialistic and more about the things of real value.
Nice positive blog Alda – BUT not quite realistic – my family is one of those who have lost all our savings and on top of that my husband and I have both lost our jobs. Our monthly payments have gone through the roof and we are still paying tax of stock-options in worthless companies (I guess the government considered stock as good as ‘money in the bank’ and therefore only fair to keep on charging us for the ‘profit’). What a great idea to accept stock instead of a raise.
The Iceland I live in has a lot of people fearing and hurting, oh, and penniless. My friends abroad have been verbally assaulted in stores when outed as Icelanders. I was shocked to sense the blatant hostility towards Icelanders the last time I visited Denmark.
I have no clue as to how we will manage, all I know is that somehow we will. But if I won’t admit that things are seriously wrong, who is going to help?
Our allies certainly haven’t been willing to. Will Alda? Or Hope?
For now I’m loving my children and husband as much as I can, it may not pay the bills but at least it keeps us warm
I hope you will excuse, buit I copied this from The Gaurdian’s site “comments” amidst raging Icelandic-British-Icelandic abuse. It made me howl with laughter. Posted by “cuppateawifmilk”:
Hullo Peoples from Icelands
I feeling much sadness in heart about your angry to England peoples becus they have been very nice to me. I running to England when I knowing Tony Blair, who very saint man, let poor peoples from lands with trouble sneaking into UK very quietly. Maybe he speeking to good frend Gordun Brown and do same deal for you. I hop so. There many opportunity in London and maybe you luck like me and find hotel clean opportunity for up to 6 pound hour! My English boss, who very generosity gentleman, tell me I extra luck becus it give network opportunity by clean room of hotshot business mogel. Infact, I very surprise so many Iceland people not liking their business mogul becus I have fortune to clean room of a Mr Johannesson, top tycoon, and he leeving room very clean (but some towel missing it true and he taking all little soaps and thing)
But I think problem is Gordun Brown not understanding you proper. He scotch and so he not speeking English good and maybe Iceland government not speeking English good becus you speeking eskimo language in normal. I understanding this problem as many foren worker in hotel and sometime we confuse when speek in English all together but in end we sort out problem and laugh at silly misstook. Soon I think Iceland primeminister and Gurdan Brown will also laugh together. This probable soon but not this moment becus Gurdan Brown is busy as he like financial Harry Potter and he saving world financial system right now. Maybe he visit your primeminister in his Igloo for Christmas or something.
But you must understanding england peoples. They think they rich becus house expensive. I explain problem to my father that england people are like farmers who think they rich becus someone say cows worth million pound even if not real. I say problems in ENgland becus now they wake up and know cows not worth million pound and all vey panicky on moneys. He ask me Iceland issue and I say it simple: Gurdan Brown and England peoples have million pound cows but Iceland is like next door farmer who have billion pound chiken and they make deal to give money to have eggs regular . But cows all sick and not worth million pound anyway and same time Iceland billion pound chicken go missing and Iceland people say all egg go to Iceland people until they find chicken again. But Gurdan Brown say fox eat chicken so no chance and then he grab all egg he can. With this information my father has explain all global liquidity crisis to village at home.
Thankyou much.
Well it made me laugh anyhow. Very accurate too!
Thank you trev! That’s so great and a much-needed antidote to the awful abuse being hurled about. In fact, I think I shall have to give that comment it’s own post. It’s that good.
Thank you for all the posts, they helped a lot to make sense of things.
And we (nearly) all still love Iceland and her lovely people.
And of course you will pull through as we all will here.
^^^ ditto, ditto!
I have been reading your blog for awhile now, but have especially enjoyed it during this difficult time. Good to have a different point of view from the doom and gloom being reported in the foreign press. Niceland will soldier on and deal with this crisis and come out better for it in the long run. Keep up the good work!
As the World Turns, indeed. All my friends that until now had zero interest in my interest in Diceland are now asking me all about it. Well not all about it, just the noise they heard on the news. I guess if cNN mentioned Diceland then it suddenly matters.
That was a crazy and risky ride that has now stopped and is due for maintenance. I think the people will pull through and perhaps demand more accountability (pun intended) from the few people that helped cause this mess. Back to basics perhaps and the more tangible resources. Once this mess is over perhaps the world will refocus on healing the planet instead of just the money. That is when Iceland can get back to the business of business.
And not to be an opportunist but I will be visiting next month while it is so much cheaper to get there and eat more than just ein með öllu. It will still put me further in debt but now is the time if I’m ever going to get there.
Keep a light on for this wayward Viking anxious to find his roots and heart.
Hildigunnur,
With a euro at 150,- icelandic kronur Iceland is not exactly cheap. It is approximatly as expensive as Germany and more expensive than the UK and the US.
With a euro at 300,- icelandic kronur, Iceland is a bargain at least for european people. I believe that a really low real exchange rate is needed in order to ignite a positive economic trend on Iceland.
An interesting news item:
- The Landsbanki majority holdings in an Irish stock stockbroker (Marrion) was sold for 30 million pounds, by the same group that sold it to Landsbanki in the first place. Landsbanki paid 90 million in 2005. That means that Landsbanki took a 60 million loss in 3 years, or a loss of 2/3rds of its original investment. If this is typical of the unwinding of assets, it explains why the Icelanders will end up with such a large debt. The Irish group essentially gets the company for free, plus 30 million profit. They should send christmas cards out to everyone in Iceland thanking them for the wonderful gift! This transaction also shows the stupidity, the criminal stupidity, of the Icelandic bankers. They thought they were doing the right thing by buying high-quality “safe” assets, but it appears that they overpaid for nearly everything they bought. One also must wonder why they took all that “hot” money and bought relatively low-yield, long term investments in assets that were not readily saleable. Idiotic.
- The IMF apparently has a pool of only $200 billion to use for loans, of which only $21 billion is actually lent. This suggests that the IMF will drive a very hard bargain in dealing with Iceland. They are not going to spend all their money on Iceland, with Hungary and the Baltic States in such trouble. You can wave goodbye to the aluminum smelting plants in Iceland. And wave hello to the Portugese fisherman along the coast.
- The Icelandic government has enough cash to supply the economy for 9 months. So there may not be any visible effects on daily life until then. By then, the government and the IMF will have an agreement for the sale of Iceland’s future.
- For those who read Icelandic, there is a must-read short article here, http://www.mbl.is/mm/vidskipti/frettir/2008/10/14/simbabve_nordursins/, “Simbabve norðursins”. The danish economist Carsten Valgreen saw this crisis coming years ago and explicitly warned Iceland about it. Incredible.He also says that the situation is so serious that no country in Europe, including Scandinavia, can help save Iceland. So it is Russia, the IMF, or broke. (By the way, Time magazine says that the Russian interest in Iceland may be in its continental shelf and the natural-gas reserves there.) Another must-read article is an interview with Prof. Gudmund-somebody-son who says that Iceland’s plight is worse than bankruptcy. Iceland doesn’t get to start over as in bankruptcy, they get the modern equivalent of debtor’s jail — you stay in until everything is paid back in full.
Geez Garpur, you’re quite the negative nancy. There’s no point crying over spilt milk, all the Icelanders can do now is to move forward and look ahead. Of course the events that have occurred will be a lesson to everyone, but what do you expect the people to do about it now? You’re practically gloating over the whole thing.
Garpur, well, the Danske Bank ppl have always taken the most negative stance towards Iceland, of all – not that they were necessarily wrong, but their own bank isn’t in a much better state, so they should basically shut up and mind their own business.
(and yes, I also would tell Greiningardeild Glitnis to shut up – and do)
I’m thrilled to have found you this morning! Reading here (and on other sites your recent posts recommended) has quickly shed more light on your slice of the global economic meltdown than all my reading elsewhere on leading news sites for three days.
By way of brief introduction, I’m a writer born near Dallas and based now in northern New Mexico, who had the good fortune to live twice in Europe for extended periods. Although I’ve never yet visited Iceland, your country has held a warm spot in my heart since university days, thanks to acquaintance with a lovely Icelandic lad who was also studying in Fort Worth.
It’s gratifying to know that, despite your grave troubles caused by corruption and greed at the top, good things are still happening (and being honestly reported) in “Niceland” — which is a lot more than we can say in the disintegrating US, which can trust its mainstream media only to lie.
I do hope your government keeps clear of the IMF/World Bank thugs and the EU, which have shown themselves champions of transnational corporate power and foes of social and economic justice. To anyone who hasn’t read it, I strongly recommend Naomi Klein’s “The Shock Doctrine” as the best overview of what we’re all up against.
I’ll be checking here often and wishing you and your readers every happiness,
Katherine Harris (Erin, for short)
Albuquerque, New Mexico
I don’t think anyone here in Norway blames Iceland for anything, garpur! Our economy is still in pretty good shape considering.
What happened to Iceland did not have a terrible effect on Norway, what was left of the Icelandic banks here have been redistributed.
And the mess [we are all in] was caused by the global downturn that originated with the US housing crisis and bank collapses. Poor Iceland is not the origin of it, rather another victim [of it's own policies mostly]!
We still consider icelanders our dear cousins and friends, if we can help you we will! After all what are friends and neighbors for?
What a delightful comment, Andrew. Thank you!
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