In the Oh Noes Iceland, a proud and iconic nation of Vikings, decided to devote the plurality of their economy to the service of Mammon, including “investments” in speculative securities and questionable derivatives.
They ran their nation like a hedge fund Ponzi scheme because suits are thought less smelly than herring and are more numerous in these Global Warming times and suffered the Bernie Madoff consequences during our current
tulip bulb bubble pop real estate value correction.
Because so much of their underfunded liability was owed to serious people in the “City” of London, those Banksters demanded their pound of flesh (Yup. I know who Shylock was. Given average body mass even for non-Americans a hand or foot would suffice, let alone an arm or a leg. Ask Saudi Arabia how effective a deterrent dismemberment is.) but it seems Vikings may sail once again.
Over 70% of the population of that barely habitable rift rock is urging the veto of their craven legislature’s capitulation and their President is vacilating.
Good for them.
I’ve carried my shield a long way and the axe is sharp enough.