If the rest of the world's governments have any sense at all, they will be watching Iceland very closely, as they seem to be the only country that has enough intelligence to take back their country, economy and set themselves on the right track!
If the sheeple of the world have an ounce of intelligence, they'll do what Icelanders did: grow some balls and stand up for themselves against government and banking corruption.
If the banking monopolies have any fucking sense at all, they'll follow Icelands lead, before the people rise up and force their governments to do it for them and find themselves facing criminal sentences, as they deserve!
Granted, things aren't quite as bad as they were 4 years ago, but they are not on the way to recovery. Instead, most governments have just tried to patch the leaks and keep the bubble from really bursting.
Iceland is the only country that poked the needle through the bubble and said FUCK YOU to the bankers that helped inflate it.
OK, so what the hell am I rambling on about? From Bloomberg:
Icelandic Anger Brings Debt Forgiveness in Best Recovery Story
Feb. 20 (Bloomberg) -- Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the countryâ€™s economic and financial collapse are reaping the benefits of their anger.
Since the end of 2008, the islandâ€™s banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association.
â€œYou could safely say that Iceland holds the world record in household debt relief,â€ said Lars Christensen, chief emerging markets economist at Danske Bank A/S in Copenhagen. â€œIceland followed the textbook example of what is required in a crisis. Any economist would agree with that.â€
The islandâ€™s steps to resurrect itself since 2008, when its banks defaulted on $85 billion, are proving effective. Icelandâ€™s economy will this year outgrow the euro area and the developed world on average, the Organization for Economic Cooperation and Development estimates. It costs about the same to insure against an Icelandic default as it does to guard against a credit event in Belgium. Most polls now show Icelanders donâ€™t want to join the European Union, where the debt crisis is in its third year.
The islandâ€™s households were helped by an agreement between the government and the banks, which are still partly controlled by the state, to forgive debt exceeding 110 percent of home values. On top of that, a Supreme Court ruling in June 2010 found loans indexed to foreign currencies were illegal, meaning households no longer need to cover krona losses.
And a video that I think is in Portugeuse, with english subtitles