Icelanders Resist Bailout Scheme | Print | E-mail
Written by James Heiser
Tuesday, 05 January 2010 17:30
As reported previously, last year’s financial meltdown in Iceland seemed in many ways to offer a summary of the worldwide economic crisis. Rampant speculation, massive deficit spending, soaring unemployment, bank collectivization, and various schemes that, to say the least, did not seem to be in the national interest, may take on different forms in different countries, but points of familiarity remain the same.

In Iceland, as in the United States, last year’s financial crisis led to markedly leftward shift in the national government. In Iceland, the left-of-center coalition led by Prime Minister Johanna Sigurdardottir, which formed in the Parliament after the collapse of the more conservative Independence Party government, brought with it an internationalist agenda that has outraged a significant portion of the population.

As Iceland’s economy began to collapse, UK Prime Minister Gordon Brown exploited “anti-terrorismâ€