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Athugasemdir

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In Reykjavik, anger was mounting among Icelanders over political moves in the 1990s to liberalise the financial markets, seen as the cause of the current problems.

Observers say the coalition government of Icelandic Prime Minister Geir Haarde risks implosion.

Haarde's Independence Party is being widely blamed for having deregulated the market without providing any safeguards.

"There is an underlying anger against the Independence Party, which has been in power since 1991 and which used to be headed by the current governor of the central bank (David Oddsson) who, in a way, brought on this crisis," Reykjavik University professor Torfi Tulinius said.

The Independence Party's coalition partner, the Social Democrats, could try to benefit from the growing discontent, he said.

Since the prime minister on Monday addressed the nation in a rare televised address, Reykjavik has taken a series of steps aimed at resolving the crisis.

But it announced Wednesday it would no longer continue efforts to shore up its currency, a day after it tried to peg the krona to the euro.

The krona has lost half its value against the euro since the beginning of the year.

The Atlantic nation's economy is largely based on its financial sector. The assets of the country's three biggest banks are nine times the country's gross domestic product (GDP).

In 2007, Iceland's GDP was 1.29 trillion kronur (8.25 billion euros, 11.7 billion US dollars). The current crisis therefore threatens the country's entire economy.

Haarde said Wednesday the island's economic recovery would take "years."

© 2008 AFP

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so,stor fighting fiction enemies and look at the real criminals who brought this upon us,Geir and co.

ks (IP-tala skráð) 11.10.2008 kl. 14:57

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What about the "Jet Set" Icelandic investors that borrowed money to buy banks and soccer clubs and then borrowed more money to pay for the initial loans and then more money to pay for that loan ...and so on. What did they do to the 300,000 brits who invested in good faith. The Brits are not angry towards the Icelandic Poeple. They are very angry about the "cowboys" and "Amatures" who are the real gangsters in this tragic train of events. Bjorgúlfur cries "Bankrupt" in Iceland then gets on his private jet to go and watch a football match in the UK stating that he is not selling West Ham...Did he ever own West Ham?.........................Lets hope we can turn this round and that The Brits and the Icelanders remain the good friends we have been for many years.... 

Maltblossom (IP-tala skráð) 11.10.2008 kl. 15:30

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