ICELAND of the FREE

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Offline Brocke

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Re: ICELAND of the FREE
« Reply #80 on: August 17, 2010, 06:35:48 AM »

Another round of formal Icesave talks to start

Posted on17 August 2010

Formal discussions over the Icesave dispute between Iceland, the Netherlands and the United Kingdom have been scheduled for the beginning of September.

Icelandic officials confirmed the news to AFP news agency. The three countries have not met to work out a deal in the dispute since early in July. Those negotiations were held in Iceland. According to RUV there have been informal talks between the three countries in recent days and weeks and it has now been decided to hold more formal talks at the beginning of the month.

An agreement between the three countries has been reached twice. The first time, the Icelandic parliament voted to support the payment deal with amendments that the British and Dutch felt they could not accept; and the second deal was rejected in a national referendum held in Iceland this March.

More here
http://www.icenews.is/index.php/2010/08/17/another-round-of-formal-icesave-talks-to-start/


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #81 on: August 17, 2010, 06:45:28 AM »

PM's Magma Committee Given Extension

17.8.2010
Words by Paul Nikolov

The committee put together by Prime Minister Jóhanna Sigurðardóttir in order to assess the legality of Magma Energy's purchase of HS Orka through the use of a Sweden-based puppet company has been given an extension to submit its findings.

Last month, the Icelandic government put a freeze on the sale of HS Orka to the Canadian-based company in order to do further investigation. A committee was soon assembled to do just that. Led by former Supreme Court judge Hjördís Hákonardóttir, the committee was turn submit findings this month.

However, PM assistant Hrannar B. Arnarsson told RÚV that the committee has needed more time to do their job, and so it has been granted. He would not comment further on the matter except to say that their findings are (tentatively) scheduled to be submitted at the end of the month.

In the meantime, the company has not yet made the final payment on HS Orka, and their investors are, according to Magma CEO Ross Beaty, "starting to get nervous".

More
http://www.grapevine.is/News/ReadArticle/PMs-Magma-Committee-Given-Extension


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #82 on: August 17, 2010, 06:52:51 AM »

Justice Minister Wants to Expand Police Powers Drastically



16.8.2010
Words by Paul Nikolov

Minister of Justice Ragna Árnadóttir is seeking to give police the right to search someone's home even if they are not suspected of committing a crime or even intending to commit a crime. Vísir reports that the minister has assembled a committee to prepare a bill for parliament asking for expressly these powers.

The minister herself admits that the idea is "controversial", but that "after having received articles, information and files, among other things regarding organized crime in Iceland, I believe that I have no other option but to respond." She adds that the search warrants would be very specific with regards to what they were looking for.

The focus on organized crime is a telling one, though - last November, the minister assembled a work group to see how the government could increase supervision of foreigners, in the hopes of decreasing organized crime. In a statement from the ministry at the time, they said that they intended to focus their efforts both on foreigners who originate from countries that are allowed freedom of movement in and out of Iceland, and those which require visas to enter. Among the ideas brought up were a temporary passport supervisory authority, as well as an "unofficial" border patrol and domestic supervisory authority. The work group, as reported on Vísir, appeared to be comprised solely of policemen. No foreigners, or groups representing immigrant rights issues in Iceland, appear to have been invited.

If the minister's bill becomes law, police would have the right to search anyone, anytime, regardless of what they are suspected of having done or will do - if anything.

More
http://www.grapevine.is/News/ReadArticle/Justice-Minister-Wants-to-Expand-Police-Powers-Drastically


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #83 on: August 26, 2010, 05:12:35 AM »

An Army of Us: Magma Energy vs. Iceland (So Far)

19.8.2010
Words by Paul F. Nikolov

By now most of our readers are probably familiar with the ongoing saga of Magma Energy—a Canadian-based energy company—and their troubles getting any sort of even footing in Iceland. On many occasions, it seems that Magma Iceland CEO Ásgeir Margeirsson and artist Björk Guðmundsdóttir are debating each other through the media. Meanwhile, the Icelandic government is trying to come to terms with the whole thing, and the mayor of Reykjanesbær thinks entirely too much about whether or not Björk files taxes in Iceland. It can get confusing. Fortunately, your pals here at the Grapevine are there to make sense of this debacle so you can judge for yourself whether Magma Energy is a voracious capitalist machine or a benevolent job-generating benefactor to Iceland.

First, a little background

Last May, Magma Energy—using a Swedish puppet company to get around an Icelandic law preventing non-Europeans from buying up Icelandic companies—bought itself a majority stake in the Icelandic power company HS Orka. They already acquired a 46% stake in 2009 but, after buying out Geysir Green Energy, which had a 52% stake in HS Orka, their control became near-absolute.

The move came as a surprise to the Grapevine, as Magma Energy CEO Ross Beaty told us in September 2009 that “no, we do not plan on getting a majority [stake of HS Orka]. I have no interest in fighting Icelanders, particularly the government, over what is proper energy policy in the country.” This was a lie. When asked in 2009 if he was taking advantage of Iceland's depressed economic situation, he'd denied this was the case. However, in May of this year he told Hera Research Monthly “We would have been farther along had [the global economic crisis] not happened, although we may not have had opportunities that we took advantage of. For example, going into Iceland was strictly something that could only have happened because Iceland had a calamitous financial meltdown in 2008.”

An outrage ensues

The corporate doublespeak caught national attention, and Icelanders were summarily outraged. They called upon the government to do something to stop this. There was just one problem: the previous conservative government had privatised HS Orka (as well as other local energy companies) by law years ago. And so, as Minister of Industry Katrín Júlíusdóttir pointed out, whether foreign or domestic, private companies had access to buying HS Orka, and the conservatives had paved the way.

In addition, Magma Energy signed a 65-year contract with the town of Reykjanesbær to conduct geothermal exploration in the area (with renewal options for another 65). Reykjanesbær has the highest unemployment rates of any area in Iceland, and has been in a job slump since the NATO base left Keflavík in 2006. And so the promise of revenue and jobs was very appealing to mayor Árni Sigfússon.

Nonetheless, the Leftist-Green Party—one of the coalition partners in the parliamentary majority—called for an immediate review of Magma's purchase of HS Orka. Minister for the Environment Svandís Svavarsdóttir went so far as to say that Magma was "running roughshod over the people", which was in response to Magma's announcement that they intended to do geothermal exploration in the area around national treasure Kerlingafjöll mountain.

It later came to light that Íslandsbanki (formerly Glitnir) had leaked documents to Magma Energy outlining other bids that competitors had made for HS Orka. RÚV reported that Magma Energy was not only informed of what the other two companies were bidding for the shares, but that Magma Energy didn't offer the highest bid. As it turns out, Ásgeir Margeirsson's replacement as head of Geysir Green Energy was Alexander Guðmundsson, who was previously supervisor of Glitnir's financial sector under then-director Lárus Welding.

Enter Björk Guðmundsdóttir

While parliament deliberated on what steps to take next, Björk Guðmundsdóttir emerged as one of the most vocal and relentless critics of the sale of HS Orka, asking what possible benefit a foreign company owning 98% of an Icelandic energy company would have for Iceland. Ross Beaty responded with a “cheeky proposal”, as he put it, for Björk: a 25% stake in HS Orka, at cost prices.

This less-than-serious response only roused the artist to become more vocal against the corporation. A website, orkuaudlindir.is, was set up to host an online petition calling for parliament to block the sale of HS Orka to Magma Energy, and furthermore, for a national referendum to put Iceland's natural resources within public ownership. At the time of this writing, the petition has nearly 17.000 signatures since its inception not even a month ago.

Beaty and Magma Energy were on the defensive immediately. While the corporation scrambled to provide reassurances that they were only interested in helping Iceland develop its energy sector and help its economic recovery, their previous dishonesty about their intentions left many Icelanders sceptical. Apparently, some of these sceptics were in the government: in the last week of July, the government announced that it refused to confirm the sale of HS Orka to Magma Energy, putting a freeze on the takeover. In the meantime, Prime Minister Jóhanna Sigurðardóttir created a special committee with the purpose of investigating the legality of Magma Sweden's purchase of HS Orka, as well as to come up with ideas with regards to drafting legislation keeping natural resources in public ownership.

This move—along with Björk's relentless media campaign against the company, to both foreign and domestic press—has made Magma's investors skittish, as Ross Beaty himself admitted to the Financial Times earlier this month, saying in part, “We do not want to walk away. But we have shareholders who are getting pretty frustrated with what’s happening. We are being made a scapegoat for all the bad business practices leading up to the financial meltdown and the tremendous fear and mistrust it created.” 

Beaty wasn't the only one frustrated. Reykjanesbær mayor Árni Sigfússon said, "Propaganda that a foreign company is using a puppet company to rake in our resources is unfounded," accusing the Icelandic media of "lapping up the propaganda" on the subject, and arguing that a private company conducting this development was better than tax dollars spent on the same thing. He then capped his argument with the bizarre (and possibly untrue but definitely irrelevant) statement that Björk doesn't pay taxes in Iceland.

What now, then?

So where does this leave us now? Well, the government has still frozen the HS Orka sale, and is still investigating Magma. Minister of Industry Katrín Júlíusdóttir has submitted legislation which would limit the lengths of contracts municipalities could make with private energy companies, foreign or domestic. Björk continues to speak out against Magma, and Magma continues to offer assurances that they mean no harm. Whatever the outcome with regards to Magma Energy, the conservatives—who created the environment and the legislation for this to happen—have been noticeably absent from the discussion. Perhaps because Magma Energy is a great example of the failure of Iceland's libertarian right wing policy: privatise it, and all your problems will be solved.

Read more
http://www.grapevine.is/Features/ReadArticle/Magma-Energy-vs-Iceland


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #84 on: August 29, 2010, 12:57:31 AM »

Young Leftist-Greens Call for Mosque in Reykjavík

27.8.2010
Words by Paul Nikolov

The Young Leftist-Greens of Reykjavík passed a resolution last night calling upon city council to deal at last with the Muslim Association of Iceland's request for a plot of land on which to build a mosque. Reykjavík mayor Jón Gnarr told the Grapevine that the city's Muslims "hopefully won’t have to wait any longer" for a mosque.

"A mosque is just as important a building in the eyes of Muslims as a church is in the eyes of Christians, and it is therefore incomprehensible that city council has repeatedly rejected their request," the statement says in part.

In fact, as the Grapevine reported four years ago, the Muslim Association of Iceland - which numbers close to 500 members today - first applied for a plot of land for a mosque in January 2001. No city majority, on the right or the left, has since approved this request. Meanwhile, other religious organizations - among them, the Ásatrú and the Russian Orthodox church - have seen their requests for plots approved.

Read more: http://www.grapevine.is/News/ReadArticle/Young-Left-Greens-Call-for-Mosque-in-Reykjavik


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #85 on: August 29, 2010, 02:11:38 AM »
To EU Or Not To EU
Kreppa in the International Eye: July
27.8.2010
Words by Marc Vincenz

Iceland’s EU accession talks commenced on July 27, and Bloomberg implied that they were fast tracked to July primarily due to increased pressure from Britain and the Netherlands to settle the Icesave issue. “EU governments sped the talks from a planned September or October start to counter the growing anti-EU mood in Iceland. Opposition to EU membership rose to 60 percent in June from 54 percent in a November [according to a Capacent Gallup poll].” And although the Icesave issue is not formally being discussed during the EU accession talks, Deutsche Welle points out that, “it could end up being a stumbling block to eventual membership. Fulfilment of EFTA rules is necessary to qualify for EU membership, and those rules require Iceland to resolve its debt...”

On this first day of talks, Foreign Minister Össur Skarphéðinsson told Bloomberg that he felt that the Icelandic people would support joining the EU once the 5.1 billion $ dispute is solved. He also told the foreign media that the Icelandic fisheries sector—in particular, as regards quotas and fishing bans—is not up for discussion. In an interview with Deutsche Welle, France's EU Minister Pierre Lellouche said, “You have to want to join Europe. I don't have the impression from the opinion polls that the Icelanders themselves are very favourable: that’s the problem.” EU ministers appear wary of Iceland repeating Norway’s two-time rejection.

Read more: http://www.grapevine.is/News/ReadArticle/To-EU-Or-Not-To-EU


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #86 on: September 01, 2010, 07:51:56 PM »
Electricity shock for Reykjavik residents

Posted on29 August 2010.

The debts of Reykjavik Energy went down by ISK 12 billion (USD 99.5 million) between the first and second quarters of this year due to the strengthening krona. Despite that, the company is to increase its prices to consumers by 28.5 percent.

Consumer groups are advising Reykjavik residents to compare prices between energy providers and change if they can get a better deal with a different company.

The price hikes announced on Friday by Reykjavik Energy amount to 28.5 percent; but the competition can only benefit from 11 percent of that amount. The remainder is in standing charges which consumers pay to Reykjavik Energy regardless of which company they buy their electricity from, RUV reports.

Thuridur Hjartardottir, director of The Consumers’ Union, says that there has not been competition in the Reykjavik electricity market since the new energy laws came into effect in 2003. There is now a chance for the first time, despite the price rises, for competition to take hold. She believes that this massive price hike will spur more people to search for a better deal elsewhere – adding that the various energy companies’ prices can be compared on the website www.ns.is.

Read more:
http://www.news.com.au/breaking-news/computer-gamers-battle-japanese-whalers-on-simulated-high-seas/story-e6frfku0-1225913153358


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #87 on: October 03, 2010, 05:26:41 AM »


McDonald's to quit Iceland as Big Mac costs rise

    * David Batty
    * The Guardian, Tuesday 27 October 2009
    * Article history

McDonald's is pulling out of Iceland next week, in a fresh blow to the island nation a year on from a financial crash that nearly left it bankrupt.

The closure of the fast-food giant's three restaurants on Monday means Iceland will become one of the few European countries, including Albania and Bosnia and Herzegovina, without a McDonald's.

Jon Ogmundsson, managing director of Lyst, holder of the McDonald's franchise in Iceland, said the rising cost of importing ingredients and no sign of economic recovery meant the business was no longer financially viable.

He said the cost of McDonald's ingredients, most of which are sourced from Germany, had doubled in the last 18 months as a result of severe depreciation of the Icelandic krona and high import taxes.

A Big Mac in Reykjavik sells for 650 krona (£3.22), but the 20% price rise required to make a decent profit would have increased it to 780 krona (£3.86), which would have made the Icelandic version of the burger the most expensive in the world.

"I've sold more hamburgers in the last few months than ever before, but the cost is prohibitive. It just makes no sense," Ogmundsson told Reuters. "For a kilo of onion, imported from Germany, I'm paying the equivalent of a bottle of good whiskey.".

Read more: http://www.guardian.co.uk/world/2009/oct/27/mcdonalds-to-quit-iceland


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline AnarchyOK

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Re: ICELAND of the FREE
« Reply #88 on: October 03, 2010, 08:32:32 AM »
Thats a good thing macca's is gone, this will benefit alot of peoples health lol
"fear is the virus they use to divide us "

Offline Brocke

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Re: ICELAND of the FREE
« Reply #89 on: October 06, 2010, 05:49:08 AM »
Icelanders stage loud protest outside Parliament

October 4, 2010 By The Associated Press 

(AP) — Thousands of Icelanders angry about the nation's dire economy protested outside Parliament on Monday, ahead of an appearance by the prime minister, police said.

At least a few thousand demonstrators gathered outside the Althingi building in Reykjavik, beating drums to complain that the government was failing to protect their assets in the aftermath of the financial crash of 2008.

http://www.mbl.is/mm/frettir/innlent/2010/10/05/meiddist_a_austurvelli/

Myndatökumenn MBL television were present in the town yesterday and get pictures of protestors. Police said that about 7-8 thousand people were present.


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

EvadingGrid

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Re: ICELAND of the FREE
« Reply #90 on: October 06, 2010, 06:06:08 AM »
Population of Reykjavik is about 120,000.. so considering not everybody is between 18-65 the turn out of about 8,000 people for this typical protest is a significant figure.

Just remember The Money and the Bankers are hiding in London.

That the Icelandic Govt previously had a stated aim to convert Iceland to a genuine Hydrogen Economy from free Electric (geo thermal), with ambitions to export to Europe.

"Competition is a SIN"
 -   J.P. Morgan

Offline Brocke

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Re: ICELAND of the FREE
« Reply #91 on: November 06, 2010, 03:37:01 PM »

Steering committee?  ???



National Assembly in Iceland takes place tomorrow

Posted on 05 November 2010. Tags: Johanna Sigurdardottir, The National Assembly of 2010, þjóðfundur, Þjóðfundur 2010

The National Assembly of 2010 (Þjóðfundur 2010) will be taking place tomorrow, Saturday 6th November 2010, at the Laugardalsholl in Iceland’s capital city, Reykjavik.

The assembly, organised by a group of grassroots organisations, involves 1,000 Icelandic citizens, all of which were selected by random means from the National Population Register. An additional 4,000 citizens have also been invited to ensure that the full 1,000 attend on the day.

The selection of citizens will represent a cross-section of Icelandic society with attending participants spanning all six constituencies of Iceland. Additionally, there is an equal division between both age and gender; the youngest being 18 and the oldest 89.

Johanna Sigurdardottir, the Prime Minister of Iceland, is among the randomly selected participants invited to the assembly tomorrow, however, it has not yet been confirmed if she is attending the event.

The National Assembly aims to establish viewpoints and feelings of the Icelandic public concerning the organisation of the country’s government and its constitution. The assembly then attempts to influence the government and other decision makers in Iceland with the information gathered.

This will be the second time that an assembly has taken place, the first was on 14th November 2009 following the Icelandic financial crisis of 2008–2009.

http://www.icenews.is/index.php/2010/11/05/national-assembly-in-iceland-takes-place-tomorrow/


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #92 on: November 06, 2010, 03:54:30 PM »

Majority of aluminium money does not stay in Iceland

Posted on12 October 2010. Tags: aluminium, economy, Environment, Iceland, metal

The majority of funds that went to build the Karahnjukar hydroelectric dam in East Iceland have not found their way back to the Icelandic state and last year more than half of Alcoa’s export revenues were sent overseas.

A new report into the effects of heavy industry on eastern Iceland has just been released. One of the conclusions of the report is that the foreign labour force used to build Karahnjukar was far bigger than predicted – at around 80 percent of all workers. The huge size of the project, the then-low unemployment and the then-high value of the krona are named as reasons.

The report also says that only a portion of the damming costs stayed in the country. Of the ISK 140 billion invested, only a third actually went into the Icelandic economy. The report says that the Alcoa aluminium smelter in Reydarfjordur (which the Karahnjukar dam was built to power) cost ISK 126 billion overall; but of that figure, only ISK 36 billion stayed in Iceland. There is no way of knowing what percentage of the money stayed in the east of Iceland, RUV reports.

On the positive side, the smelter continues to return funds to the economy. Last year it exported ISK 74 billion worth of aluminium and bought electricity from Landsvirkjun for at least eleven billion. The report calculates that ISK 28 billion (or around 40 percent of the export value) remained in the Icelandic economy. That is somewhat higher than previously estimated – partly because tax has been added to the purchase of electricity since the plant opened, thereby increasing tax payments to the treasury.

http://www.icenews.is/index.php/2010/10/12/majority-of-aluminium-money-does-not-stay-in-iceland/


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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A Federal Nordic State to move towards Sweden, Finland, Norway in the EU
« Reply #93 on: November 06, 2010, 08:49:44 PM »
Is a federal Nordic state on the cards?

The Nordic nations together would have economic and political clout – if they could overcome their fierce independent spirits


          o Eirikur Bergmann
          o guardian.co.uk, Tuesday 2 November 2010 15.01 GMT

Today the leaders of the five Nordic states are meeting to discuss the possibility of creating a Nordic federal state. Ever since the Kalmar Union of the kingdoms of Denmark, Norway and Sweden – reaching to Iceland, Greenland, the Faroe Islands, Shetland and Orkney – collapsed in 1523, the idea of reinstating some sort of a supra-national Nordic state regularly crops up. Now this old idea has resurfaced in a book the Swedish history professor Gunnar Wetterberg submitted to the Nordic Council in Reykjavik today.

Wetterberg argues that together the Nordics (Denmark, Finland, Iceland, Norway and Sweden, with the three micro territories the Faroe Islands, Greenland and Aland), will be stronger and more stable and prosperous than they are on their own. After Sweden and Finland joined Denmark in the European Union in 1995, leaving Norway and Iceland in the European Free Trade Association (Efta) (and within the European Economic Area, which brings them in to the European internal market), the Nordic Council has been in search of renewed purpose. Over the last 15 years the cracks have become ever more obvious in Nordic co-operation: it has been downgraded to cover soft policy issues such as culture, while economics and other hard policy has been transferred to the European level.

With a joint government and a parliament based on a common constitution, the federal Nordic state should concentrate on foreign policy and defence, the economy and the labour-market, and research, leaving most other policy areas to the regional authorities in Copenhagen, Helsinki, Oslo, Reykjavik and Stockholm. Wetterberg compares his Nordic federation to the Swiss model and links it with the creation of the UK, France, Spain, Germany and Italy, which he claims developed from a similar situation as the one now found in the Nordics. This Nordic state would have 25 million inhabitants and, because of its wealth, would be one of the larger economies in Europe, equalling that of Spain. Its economic size would secure the federation an influential seat at the G20.

The discussion on a possible federation speaks directly to the fierce debate on Europe still raging in the Nordic states. However culturally and politically homogenous they might be, the Nordics are split on different sides of the EU fence – and while Denmark, Norway and Iceland are founding members of Nato, Sweden and Finland remain neutral. Finland is the only one to have adopted the euro, and Denmark has remained defiant in the face of the continuing changes within the EU and refused to sign up to either the Maastricht treaty or the euro. The Norwegian electorate has twice rejected EU accession. And Iceland only decided to apply for EU membership last year, after the economic crash.

In addition to common European values and identities such as protection of democracy, human rights and being based on Christian heritage within a stable nation state, scholars have also identified a set of joint Nordic values and identities. They include a belief in the welfare state and high taxes, systematic corporatism between government, interested organisations and civil society. These societies are built on Protestant ethics and emphasise equality, with special focus on woman's rights. Most of them share a similar language, and strong national sentiments can be found in all of them – put more negatively, one can even spot a joint xenophobia. Taking into account this sense of a common cultural space, the apparent difference in foreign policy becomes even more interesting.

A Nordic federation might be feasible from and economic and security perspective but if the debate on Europe tells us anything, it is that all of the Nordics guard their independence fiercely. The EU is a supra-national institution of independent states that have pooled sovereignty in specific, limited areas, but joining in a Nordic state, by definition, would end the independence of Denmark, Finland, Iceland, Norway and Sweden and create a completely new state. Wetterberg therefore proposes much greater integration than can be found in the wildest dreams of European federalists.

Read More: http://www.guardian.co.uk/commentisfree/2010/nov/02/nordic-federal-state


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

Offline Brocke

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Re: ICELAND of the FREE
« Reply #94 on: December 10, 2010, 11:07:25 PM »

Icesave deal formally presented in Reykjavik

09 December 2010

Iceland, the Netherlands and the UK have completed the latest draft of a deal to settle the ongoing Icesave dispute. Initial reaction to the deal is largely positive, although the Icelandic parliament has yet to vote on it.

The leader of the Icelandic negotiators, the American lawyer Lee Buchheit, began his introduction to the deal by saying that the main question the negotiators faced was how to make a payment contract for a debt if one will not know the final amount for several years.

Buchheit told reporters that the assets from Old Landsbanki will likely cover the whole Icesave debt given time — although that is impossible to say with any certainty at this stage.

Iceland will begin to pay back the loans to the British and Dutch in 2016 and the length of repayment time will depend on how much of the debt is not covered by Landsbanki assets. If the amount payable by the state is lower than ISK 45 billion (USD 389.1 million), the amount will be paid off very quickly – possibly in just one year. If the amount of the loan is higher, the repayment period will lengthen accordingly – theoretically all the way to the year 2045 in the worst case.

The interest payable to the Dutch is 3 percent and 3.3 percent to the British — the difference coming because of the two countries’ differing loan finance ratings and systems.

read more: http://www.icenews.is/index.php/2010/12/09/icesave-deal-formally-presented-in-reykjavik/


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Offline Brocke

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Re: ICELAND of the FREE
« Reply #95 on: December 10, 2010, 11:13:29 PM »
PriceWaterhouseCoopers criticised in Landsbanki crash report

Posted on10 December 2010

A report on behalf of Iceland’s Special Prosecutor into the banking crisis says that the Icesave debt upon the Icelandic state would have been massively lower had PricewaterhouseCoopers, Landsbanki’s external auditing company, done its job properly.

According to the report’s Norwegian main author, if PricewaterhouseCoopers had been honest in its reporting of Landsbanki, the bank would have lost its operating licence no later than the end of 2007.

Among other things, the report criticises the auditors for not having flagged up the so-called Icelandic Affair. The Icelandic Group took massive loans from Landsbanki and was allowed to continue borrowing after it became apparent the company would have difficulty servicing its debts. Icelandic Group was saved from being put on Landsbanki’s defaulters’ list by a EUR 40 million loan from Grettir ehf. Grettir ehf. in fact got the 40 million directly from Landsbanki and all three companies involved were owned by Bjorgolfur Gudmundsson.

read more: http://www.icenews.is/index.php/2010/12/10/pricewaterhousecoopers-criticised-in-landsbanki-crash-report/


That men do not learn very much from the lessons of history is the most important of all the lessons of history.
~Aldous Huxley

He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

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Re: ICELAND of the FREE
« Reply #96 on: January 06, 2011, 09:42:36 AM »
bump


Offline jofortruth

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Re: ICELAND of the FREE
« Reply #97 on: July 05, 2015, 07:00:53 PM »
Iceland shows the way: Reject Austerity
http://english.pravda.ru/world/americas/28-11-2012/122952-iceland_reject_austerity-0


Quote
When, in September 2008, the economic and financial crisis hit Iceland - a small island in the Atlantic with 320 000 inhabitants - the impact was disastrous, as in the rest of the continent. Financial speculation bankrupted the top three banks, whose total assets were ten times higher than the country's GDP.

Acting against their own forecasts, the IMF welcomed the policy of the Icelandic government - whose measures applied are totally contrary to what the Fund advocates.  In fact, Iceland has a high human development index. "The IMF states that the rescue plan in the  Icelandic mode offers lessons in times of crisis." The organization adds that "the fact that Iceland has managed to preserve the welfare of family units and achieve a far-reaching fiscal consolidation is one of the greatest achievements of the program and the Icelandic government."

However, the IMF omitted the information that these results were only possible because Iceland refused its neoliberal shock therapy and developed a program to encourage an economic and efficient alternative.

Greece vs. Iceland: This simple comparison proves austerity is morally and literally bankrupt
http://www.scriptonitedaily.com/2015/01/30/greece-vs-iceland-this-simple-comparison-proves-austerity-is-morally-and-literally-bankrupt/



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