Iceland committed to joining the Euro

[BlasterBates]

So Iceland was a shining example held up as the reaon why countries shouldn't be in the Euro....

then again...

[BrilloPad]

"The country may sell another bond to international investors this year, after issuing a $1 billion five-year bond in June"

What morons would lend to Iceland?

[DimPrawn]

Iceland is a shining example of why when you are up to your eyes in debt the best approach is just to default and declare yourself bankrupt.

A few years later everyone is falling over themselves to lend to you again and all the austerity pain is never felt.

[Paddy]

Is that the end of two for £1 frozen peas?

[The Spartan]

A lot of councils and Police authorities lost millions when they invested their staff pensions in Iceland

[Troll]

Did they ever pay back our wonga?

[DimPrawn]

Did they ever pay back our wonga?

Nope. They borrowed like everyone else and when they realised they would never be able to pay it all back they simply raised two fingers to the rest of the world and said "thanks for all the free money chaps, we ain't paying it back".



The international community said "if you do this, you'll be an economic pariah", and Iceland responded by enjoying itself, spending the money and generally having a good time (compare and contrast to Ireland).

Now they'll join the Euro, get lots more free money and then laugh when that goes tits up.


Got to admire this approach.

[The Spartan]

Spot on assessment there, seems unbelievable but they managed it. I wonder if it added anything to the so-called public pensions crisis as they lost a fair whack when Icesave went tits up

[Doggy Styles]

Iceland wanting to join the eurozone is hardly a ringing endorsement of it!

[The Spartan]

What I don't understand is the Greeks, they're trying to pass austerity measures so they can get more money and people are striking and objecting. Won't that mean that the country will go down the pan?