No future for Iceland?
No, not at all!
Rather, it's more like "no future for single Icelandic mothers who took out big, foreign-currency-denominated loans while expecting [hoping] to pay back the loan with [now bombing] Icelandic currency from a job very susceptible to economic downswings.
On the other hand, for foreigners with sizable assets denominated in foreign currencies, Iceland might be a very cushy place to settle down - or, at least, to establish a "pied-à-terre*."
This woman's story serves merely to illustrate, once again, that poor decisions usually end up biting you in the butt.
Regards,
*A pied-à-terre (French, "foot on the ground") is a small living unit usually located in a large city some distance away from an individual's primary residence.
Thanks for that mlocher, hopefully you are still right.
I thought thou that in bad times we would stick together, but instead we got a political crisis on top of the financial one. And that is the one that is still hindering our resurgence as a people.
In their anger they voted for the two most left wing parties (one of which was in the previous government, but was somehow exempted from criticism, although that is changing TODAY, as a committe tasked to reveal what happened was publishing its results today) that could for the first time ever form a government without a center party in the coalition to moderate them.
And now the only thing they are doing is NOT reducing our government expenditures, as that would hurt their loyal constituents of public servants, but increasing ALL taxes that they find, and creating new ones.
They have also done their best to reduce people´s hopes for the future by accepting responsibilities for a political decision in the UK and Netherlands to pay those that had funds in the Icelandic banks (one of them at least) out of government coffers, and sending our government the bill.
But worst still is that they have applied for membership in the EU, thus raising fear that we will loose our hard won independence.
I just wish the US was still a strong assertive ally of freedom and democracy that would, like in the past, deter regional bullies from praying on the weak nations.