Iceland is Doing Very Well

AlphaRed · 15-06-2015 02:59PM #1

They burned the bond holders
Let the banks fail
No austerity measures
Jailed executives who were responsible

This is only a short clip below but apparently they did not go through the suffering everywhere else had to go through and today their economy is doing better than ever.

diomed · 15-06-2015 02:59PM

May not be 100% true.

The Diabolical Monocle · 15-06-2015 03:01PM

They're not int ruddy EU though innit.

jimgoose · 15-06-2015 03:02PM

Peter Andre is still a flute, though.

LadyFenghuang · 15-06-2015 03:04PM

They had the people power and the political honesty we lack. Our politicians are not as accountable as theirs. Also the gap between politicians and people is greater here. They think they are untouchable.

DEFTLEFTHAND · 15-06-2015 03:05PM

Top of their Euro Qualifying group to boot.

Son Of A Vidic · 15-06-2015 03:05PM

LadyFenghuang wrote: »

They think they are untouchable.

They are.

Cookie_Monster · 15-06-2015 03:06PM

maybe you should move there if its such a great place then OP...
they even have gay marriage, one of your favorite topics.

LadyFenghuang · 15-06-2015 03:08PM

Corvus Maximus wrote: »

They are.

di11on · 15-06-2015 03:12PM

Corvus Maximus wrote: »

They are.

They're not - it's the people that make them accountable. We're just soft and bend over and take it every time.

Honestly, you lot voted Bertie in again. Honestly, what does it take to lose your seat?

LadyFenghuang · 15-06-2015 03:14PM

di11on wrote: »

They're not - it's the people that make them accountable. We're just soft and bend over and take it every time.

Honestly, you lot voted Bertie in again. Honestly, what does it take to lose your seat?

Who do we have as an alternative currently? I agree with you completely. The conflict of interests between our politicians and regulatory bodies is clear always has been it's what has led to the Denis O' Brien scandals too.

Really the only alternative is independents. And that would make for weak govt.

LadyFenghuang · 15-06-2015 03:15PM

Iceland is only now starting to lift the crisis controls from 2008 by the way. It's not REALLY doing that great.

di11on · 15-06-2015 03:20PM

LadyFenghuang wrote: »

Who do we have as an alternative currently? I agree with you completely. The conflict of interests between our politicians and regulatory bodies is clear always has been it's what has led to the Denis O' Brien scandals too.

Really the only alternative is independents. And that would make for weak govt.

The people can be politicians too. What's really needed is a good leader with a good vision that people can buy into. A new vision for Ireland - a modern vision with no civil war identity. And give it a bloody English name!

di11on · 15-06-2015 03:22PM

LadyFenghuang wrote: »

Iceland is only now starting to lift the crisis controls from 2008 by the way. It's not REALLY doing that great.

At least they got some justice - there's value in that. And at least they're starting afresh. We just took out a 3 generation mortgage from our German uncle to pay our German uncle.

Public_Enema · 15-06-2015 03:25PM

di11on wrote: »

They're not - it's the people that make them accountable. We're just soft and bend over and take it every time.

They're not untouchable? If you think that and if you think the Irish political system has the integrity to deal with it. You're either naive or deluded.

Ranchu · 15-06-2015 03:25PM

They have their own currency. The euro is an increasingly unfunny joke.

astrofool · 15-06-2015 03:32PM

Ranchu wrote: »

They have their own currency. The euro is an increasingly unfunny joke.

It's fairly easy to come back if you half everyone's wealth and collapse the economy overnight.

To do the same here would have required halving all social welfare and pension payments, as well as letting the banks go bang, so the pensioners get a double whammy of half their usual state pensions, plus a private pension worth nothing.

The euro meant we pretty much kept our wealth.

Enjoy Heroin Responsibly · 15-06-2015 03:33PM

AlphaRed wrote: »

They burned the bond holders

At least 95% of the general public have no idea what a bond holder actually is.

At least 99% of the section of general public who advocate "burning bondholders" have no idea what a bond holder is.

TallGlass · 15-06-2015 03:34PM

LadyFenghuang wrote: »

Iceland is only now starting to lift the crisis controls from 2008 by the way. It's not REALLY doing that great.

And have we even lifted ours?

The government of Ireland are untouchable and can do and will do what ever they want.

jimgoose · 15-06-2015 03:34PM

Enjoy Heroin Responsibly wrote: »

At least 95% of the general public have no idea what a bond holder actually is.

At least 99% of the section of general public who advocate "burning bondholders" have no idea what a bond holder is.

Tuk errr Bonds!

di11on · 15-06-2015 03:36PM

Public_Enema wrote: »

They're not untouchable? If you think that and if you think the Irish political system has the integrity to deal with it. You're either naive or deluded.

I'm saying you and I need to bring them to account. You can't hang on to excuses like "what choice have I got" forever. It's a self fulfilling prophecy.

The water charges protest is the closest we've ever got to exerting influence. It is possible. People just don't get excited enough.

When you say they are untouchable, what aspects of the Irish political system are different which prevent the type of accountability you believe there to be in other systems?

Forest Demon · 15-06-2015 03:42PM

Iceland took the correct path morally and financially.

denhaagenite · 15-06-2015 03:48PM

Cookie_Monster wrote: »

maybe you should move there if its such a great place then OP...
they even have gay marriage, one of your favorite topics.

There aren't enough "rolls eyes" in the world for this.

Forest Demon · 15-06-2015 04:05PM

di11on wrote: »

When you say they are untouchable, what aspects of the Irish political system are different which prevent the type of accountability you believe there to be in other systems?

It goes beyond the political system. The power is with the unelected senior pubic servants, pubic sector unions, bankers and media (including our national broadcaster). Politians are not held accountable because there was never real austerity for any of the above. They are sitting pretty, discussing pay restoration and awaiting their pensions. It Ireland had real austerity then the streets would have run red and the Irish would have revolted. Just look at the teachers unions recently and they are the hightest paid in the world. Think of what would have happened with a 50% pay cut and a new pension deal. Think what would have happened with a 50% cut in social welfare. We are not that tame in Ireland.

For all of Ireland's gloating all they did was borrow more money on the backs of this and future generations. Well done Iceland and even if there is a short term sh1testorm in Greece if they default, In the long run they will be in a better position then Ireland so well done to them too. Fuc being blackmailed into taking on the debts of others! and damn the consequences. A lot of people have nothing to lose as it is.

Deathwish4 · 15-06-2015 04:29PM

"Pub Grub" range must have taken off

Son Of A Vidic · 15-06-2015 05:37PM

di11on wrote: »

They're not - it's the people that make them accountable. We're just soft and bend over and take it every time.

It has nothing to do with people being soft and everything to do with a corrupt political system. We have basically two versions of gombeens that run this country and cronyism & nepotism is rife. Of course people shouldn't vote for these clowns, but the calibre of candidate entering politics leaves a lot to be desired.

di11on wrote: »

Honestly, you lot voted Bertie in again. Honestly, what does it take to lose your seat?

You lot? Thankfully, I wasn't even living in Ireland when people were voting in Bertie. But when I returned in the noughties, I was nearly beheaded for saying I thought Ireland had lost the run of itself and was a paper tiger not based on a tangible reality. So perhaps an element of I'm alright Jackism lies at the root of our problem in Irish politics. Perhaps people fail to see the bigger picture and don't want to upset the status quo if their own lot is grand.

15-06-2015 05:43PM

There are all sorts of social and cultural reason why what they did in Iceland worked for them and would not work for us.

Of the..... its always better somewhere else countries Iceland is a new one to add to the list;)

Enjoy Heroin Responsibly · 15-06-2015 05:45PM

1) Burn the bondholders (because Ive no idea what a bondholder is)
2) Let the banks fail (because that worked so well in the 1930's)
3) ?
4) PROFIT !

RecordStraight · 15-06-2015 05:49PM

I always get my economic facts and political stories from Putin's Propaganda telly. You know it makes sense.

15-06-2015 05:53PM

Enjoy Heroin Responsibly wrote: »

Let the banks fail (because that worked so well in the 1930's)

The liquidation of Anglo is one of the current Government's proudest achievements. Banks fail on a regular basis in the USA and Denmark. I think something like 150 banks have failed in Denmark since 2008. And boy, do they burn their investors.

I think you need to acquaint yourself with some of the information you seem to accuse others of lacking.

mynamejeff · 15-06-2015 05:55PM

its not true

the same political party that screwed the country during their boom years are back in power.

a few were thrown to the wolves which is fair enough and more than we got,

it would be akin to us voting bertie back in

they are nut deep in debt and still spending money like its not costing them

its like they all decided en mass to ignore the problem in the hope that it will all go away

Iceland is Doing Very Well

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