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Title: Iceland thumbs nose at international opposition to advance $1.2bn debt relief plan
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Published: Dec 7, 2013
Author: staff
Post Date: 2013-12-07 07:47:27 by Tatarewicz
Keywords: None
Views: 114
Comments: 5
Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions. The measure was introduced by the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won the late-April elections on a promise of household debt relief. According to the government’s website the household debt will be reduced by 13 percent on average. Citizens of Iceland have been suffering from debt since the 2008 financial crisis, which led to high borrowing costs after the collapse of the krona against other currencies. “Currently, household debt is equivalent to 108 percent of GDP, which is high by international comparison,” highlighted a government statement, according to AFP. "The action will boost household disposable income and encourage savings.” The government said that the debt relief will begin by mid-2014 and according to estimates the measure is set to cost $1.2 billion in total. It will be spread out over four years. The financing plan for the program has not yet been laid out. However, Gunnlaugsson has promised that public finances will not be put at risk. It was initially proposed that the foreign creditors of Icelandic banks would pay for the measure. International organizations have confronted the idea with criticism. The International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD) have advised against it, citing economic concerns. Iceland has “little fiscal space for additional household debt relief” according to the IMF, while the OECD stated that Iceland should limit its mortgage relief to low-income households. In the meantime, ratings service, Standard & Poor's, cut back on its outlook for Iceland's long-term credit rating to negative from stable, stating that the economic measure could affect the confidence of foreign investors if it ends up being paid for by the existing creditors of Icelandic banks.
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#1. To: Tatarewicz (#0)
Whaaaa ... you gave the serfs a bailout ... "The amount of our National Debt is the measure of our enslavement to Jewish World Finance. We live in a democracy, yet loans are contracted that always cost more than the amount of the loan, and no one has a word to say about it. We Americans do not know how much interest we pay every year, and we don't know to whom we pay it." The Dearborn Independent / Henry Ford
James StGeorge I do not get it? State decides to steal more creditor's money as some public bribe? Well a bribe to the rich enough to have a house, bought with other people's money. Iceland is already a despised pariah State for not living up to its responsibilities to savers in its banks. Guess they wish to return to some modern form of Viking pillaging of others as a living? Pat Enery The concept of usury is Talmudic in origin & Talmudism is Jewish. Jews that believe in the Torah only are known as Karaites & they are outcasts in Jewish society. Their numbers are also very small. The current world fractional reserve banking system is Jewish in origin. So as to not arouse suspicion, the figureheads aren't Jewish. Do the research before the internet is taken over. They didn't plan for the Internet Reformation. It's blowing their cover. Hence their moving to control it through governments. Hemp Share What we have is: Multi-Generational Aristocracy (Rothchilds, Barclays, Windsors etc) who have Multi-Generational Minions (Rockefellers, DuPonts, Morgans, Walkers) who have Multi-Generational Minions (Kennedys, Bushes, Clintons). The upper classes of Society run their Establishment Machines for them and the rest of you are their employees. Abinico Warez Hope you're self sufficient cause you ain't getting any loans anytime soon. In fact, the Jews will hound you till the end of time. Eileen Apple A government that does what it says what a concept :) Awesome! exposing the jews for what they are. Anti human. Anti Christ. +7 Karl Nietzschmann @Candide Schmyles - Well said! While the rest of the world, especially Greece, was pandering to the IMF and Banksters, Iceland was a brave role model for the world. Instead of giving bonuses to the Banksters in their country, they put them in jail and said "NO!" to the criminal IMF. And now they are better off than Greece! Michal Miklos Legrady Jews for the most part are Aryans from Kazakstan. Around 900AD there were three major religions, The Kazaks were fighting with the Muslims and did not want to obey Rome, so they adopted Judaism. In 1600AD Mongols chased them into Poland You are very wrong, Jews are Khazars, a Turko-Mongoloid race from the Caucus region, they switched to Judaism as a "safe" religion because they were wedged between Islam and Christendom. 90% of Jews are Ashkenazi, which are Khazars, DNA proves this!
I told me ex-girlfriend, who is in big trouble with her mortgage, to ask to see the original title (and not some fake, printed-up one). The bank couldn't show it to her. It's her house, now. "Have Brain, Will Travel
According to the government’s website the household debt will be reduced by 13 percent on average. The PM's name does NOT rhyme with 'Goldberg', which is no doubt a constant source of pain and suffering to the IMF. Go Iceland!! despite overwhelming criticism from international financial institutions.
#2. To: noone222 (#1)
Comments following RT article
#3. To: Tatarewicz (#0)
#4. To: Tatarewicz (#0)
the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won the late-April elections on a promise of household debt relief.
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-Alex Kurtagic
#5. To: X-15 (#4)
Yes indeed! Go Iceland!!
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