Tag Iceland

Irish government collapses

In a fitting tribute to a disgraceful performance by Irish Prime Minister Brian Cowen in which Cowen crammed losses of Irish banks down the throats of taxpayers, his government has at long last collapsed. Six cabinet members (40%) resigned representing…

Ex-CEO and CIO of Iceland bank arrested

Iceland gets it. They choose to save their country, not the bondholders. They let their banks collapse, told the bondholders to stuff it (they owe $81 billion and haven’t paid back a penny), and their economy is now recovering. Now…