Just say No

Zenith.UK

Part of the furniture
Joined
Dec 20, 2008
Messages
2,913
One fundamental difference between Iceland and Ireland.
Iceland isn't in the EU.
Ireland is in the EU and part of the Euro.

Iceland has no obligation to Europe and so can decide it's own terms for repayments as and when it pleases.
Ireland is obligated to meet it's commitments to Europe and can't negotiate the terms.


Iceland is also energy independent due to it's large hydro and geothermal power generation.
Ireland is heavily dependent on imported oil and gas.

Iceland can ride hard times out better than other countries and still keep the lights on.
 

rynnor

Rockhound
Moderator
Joined
Dec 26, 2003
Messages
9,353
Nothing is without a price - Iceland can no longer raise money on the markets because they are defaulting on international obligations.
 

Job

The Carl Pilkington of Freddyshouse
Joined
Dec 22, 2003
Messages
21,652
The Icelandic prime minister was on the radio explaining that the bank will pay back 2 billion in a few months and the rest over two years from it's own funds, because it's doing rather well, and there's no point in dragging it through the crap of tax payers covering it when it can get sorted the normal way.

Seems quite reasonable to me.
 

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