Annie
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- Nov 22, 2003
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Gunny posted something earlier regarding recession or depression? Right now seems to depend on where one occupies space. Since late summer/early fall it's been known Iceland is in serious trouble, so how are they handling it?
World Agenda: riots in Iceland, Latvia and Bulgaria are a sign of things to come - Times Online
World Agenda: riots in Iceland, Latvia and Bulgaria are a sign of things to come - Times Online
January 21, 2009
World Agenda: riots in Iceland, Latvia and Bulgaria are a sign of things to come
Our third global political column explores the start of an age of rebellion over the financial crisis - beginning in Iceland
Icelanders all but stormed their Parliament last night. It was the first session of the chamber after what might appear to be an unusually long Christmas break.
Ordinary islanders were determined to vent their fury at the way that the political class had allowed the country to slip towards bankruptcy. The building was splattered with paint and yoghurt, the crowd yelled and banged pans, fired rockets at the windows and lit a bonfire in front of the main door. Riot police moved in....
...Governments have so far managed to deflect attention from their role in the crash, their slipshod monitoring, by declaring themselves to be indispensible to the solution. This may save the skins of politicians in wealthier countries who can credibly and expensively try to prop up banks and sickly industries. But it does not work in countries that are heavily indebted, with bloated and exposed financial sectors. There, the irate crowds are already beginning to demand: why hasn’t a single politician resigned? What has happened to ministerial responsibility? Who will investigate government failure?
Good questions, it seems to me, in these unquiet times.
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