Europe

[Endovelico]

The UK and the Netherlands know that the liquidation of the Landsbanki's assets will cover about 90% of the debt. Their insistence on having the people of Iceland made liable for the whole debt has more to do with future situations with other countries. If they let Iceland off the hook, they will have no arguments to make similar demands to Ireland, Greece, Portugal or any other country in a similar situation. That's why we must all support Iceland and their decision not to pay. We are indeed all Icelanders, and their resistance is our resistance.

[Najar]

Endo,

My understanding of the Iceland issue is this : Individual investors from UK & Netherlands dposited money in iceland banks , when they offered huge interest. In this case a bank in Iceland took deposits and couldnt cover the individual investors, when the bank falied. In this case Britain & Netherlands are trying to hold the nation of Iceland responsible for the stupidity of an icelandic bank and british investors. I can understand the justification in Icelands situation.

In case of southern europe, the Governement borrowed money and they were going for defaults , which raised the cost of borrowing - sending them in downward spiral. In this case the governments need to go for austerity measures - which is being resisted by its population. If the government & population are willing to go thru this bitter medicine , it will benefit them in longer run.

These two are different situations. Why do you thing that there is a common cause?

[Endovelico]

[Captain Murphy]

[Endovelico]

[AzariLoveIran]

[Azrael]

[Azrael]

[Endovelico]

[Najar]

Endo,
You may have to educate me on this.

How can trade deficit affect a nation in a single trade block using a common currency? I can not imagine a trade deficit affecting Oregon , when Oregonians buy more products made in California.

Since portugal doesnt control the movement of capital & labor , the net trade deficit should balance itself within EU. The only deficit possible is governments budgetagry deficit , w.r.t tax collected vs money spent , and issuing bonds to address this.

BTW - I am no economist - you may have to put it in simple sentences!

[AzariLoveIran]

[Endovelico]

[Ibrahim]

My understanding is that the Icelandic situation may turn of some kind of referendum, and that the Icelandic population keeps refusing to be held responsible for the bill. It's unclear to me why the Icelandic population would wish to be held accountable for the reckless behavior of investment bankers worldwide.

Luckily for the people underwriting the EU bailouts of countries like Portugal or Greece, larger nations don't have this kind of direct democracy built in.

[Endovelico]

[Endovelico]

[Colonel Sun]

[Sparky]

The courts in the UK have fairly far reaching powers when it comes to preventing matters being reported in the press - useful when it comes to suppressing details of a trial in progress from being reported lest they prejudice it's outcome, but much abused of late by the wealthy, celebs and politicos for covering up their dalliances and low-down shenanigans. Needless to say, the ravening British press despise them with the fervour and hypocrisy of a prudish Victorian minister in the pulpit after an agreeable morning in the knocking shop.

Much grumbling in the papers and news over the last few weeks, culminating in 's admission to having used them in the past has kept the matter in the public eye.

Today, some (OK - disgruntled hack) has been tweeting the the details of several of the (frankly banal) stories proscribed by these so-called "super injunctions", leading to much , and perhaps the beginning of the end of their use (and abuse). Wilkes and liberty!

[monster_gardener]

[Colonel Sun]

[YMix]

[monster_gardener]

[Endovelico]

[YMix]

[AzariLoveIran]

[Endovelico]