vendredi 10 octobre 2008

Mum's gone to Iceland

I have to say, when I first saw the headline 'Iceland Bankrupt', like thousands of others I just thought it meant the frozen food place. It's not that far fetched. Shops on the high street are having a difficult time of late, and I thought, "Bugger. I like their raspberry sponges too". But it's the actual country. A whole country - ok, not a very big country but a country with a flag, currency and capital and all that. The banks have dragged the whole place down. Past governments embraced neolib doctrine and, voilà, well, we know the story after that. The solutions now seem extremely grim. The Russians have offered a few billion but it's not enough. (Hold on, the Russians?) It looks like the government will have to go and assume the position before the IMF. But that splendid, helpful and just institution doesn't give money out just like that. It imposes conditions, of course. Conditions described in the Independent as 'harsh strictures from the Washington based organisation'. These solutions are based on freeing up the country to free market principles. Right.

Look, do we have to think this through any further......? I mean does anyone have to go on anymore about that idea? All the Icelandic people will have to revolt and set up their own socialist society based on fish. Apparently, though, there is little sign of civil unrest. Yet. Or emigrate. Like the Easter Island people. Anything has got to be more viable than whatever the IMF zombies churn out.