robpatozz

Where Are the news Stories About Iceland and Greece?!

In News Stories on December 31, 2008 at 4:44 pm

I consider myself to be an information junkie, a consummate seeker of truth, always searching. In my quest for knowledge this morning, I set out to get some updates on the “situation” in Iceland. I went to the normal sources google search, yahoo, dogpile, The Drudge Report, youtube, etc…To my dismay I found nothing current or at all relevant to the financial collapse. Not wanting my conspiracy theory filled imagination to run away, I enlisted the help of my wife to assist with the search. We utilized a variety of keywords, and keyword combinations, such as: Iceland, Iceland Financial, Iceland crisis, Iceland unrest, Iceland riot…With the wheels spinning, we did the same for Greece, wondering what kind of updates that we would find regarding their civil upheaval. We searched and searched for something substantive, but alas, to no avail. We could not find any reports, stories or videos newer than the 2 weeks old…Interesting coincidence?! Peculiar?! I thought so. But, I do not like to jump to conclusions. I encourage our fellow patriots to do some digging and share your thoughts what you find.

The most interesting and scary piece of “journalism” I could locate was the following article from the Brussels Journal. Thoughts?

Will Iceland Join The EU in 2009?

European Commissioner for Enlargement Olli Rehn said earlier this month during a videoconference with Reykjavik from Oslo that the European Commission is already mentally preparing for a membership application from Iceland, and that a rapid treatment of the application could not be excluded. He mentioned specifically that the island could become a member of the European Union already before the end of 2009, even before Croatia.

Iceland came in serious financial difficulties this year as a result of the global banking crisis, which made the banking sector on the island collapse completely. One of the side effects of that collapse has been that the Icelandic crown’s value has fallen like a brick, hitting a large part of the population, even those who didn’t actively participate in the island’s banking adventure. It’s not uncommon on the island to have the loan for the house or the car in foreign currency, primarily the euro, and some islanders found themselves these last months paying more on interests on their loans than they earn in a month’s time. Even those who didn’t take loans in foreign currencies were hit by the crisis, because local interest rates went completely through the roof, and fixed interest rates on loans are virtually an unknown concept in the country. As a consequence, several demonstrations took place in the local capital Reykjavik in November and December, some of them even ending in riots, a rarity on the island, even though we’re still far away from Greek-anarchic style “demonstrations”. It is worth noting though that some of the demonstrations mobilized as many as several thousands of protesters, a significant number considering there live only 300,000 people on Iceland.

The island is a member of NAtO, EftA, EEA and the Schengen Area, but has so far kept itself outside the European Union. Opinion polls have always shown a large opposition against EU membership, and therefore Iceland is the only Nordic country that hasn’t even organized a referendum on EU membership. One of the reasons why Iceland never has wanted to join the EU are the rich fishing grounds around the island, but recently the strong and very expansive banking sector became an argument too. Now that the latter has collapsed completely, the argument has disappeared too, and the EU wind on the island has shifted direction radically. According to the latest opinion polls, there would now be a large majority favoring accession to the EU.

For the complete story click here

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