[jonhallur]

Originally Posted by gibonos

I think we have to define bankrupcy.

For me the fact that IMF and Russia
http://www.nowpublic.com/world/imf-kiss-death
http://www.bloomberg.com/apps/news?p...d=a3FLoXHmazOs

is even worse than bankrupcy!
When your clear your debt (chapter 11) and say GTFO it's my country, your banks screwed this up, not the people.

In reallity the country is now owned by third parties, which can dictate what the reforms should or shouldn't be, they have to secure thier investments.

gibonos

Second news item is wrong, Iceland never got the loan from Russia, it fell through. Iceland is under the thumb of IMF, and it looks to me that if we accept to pay the British and Netherlands governments for the "awesome" loan they gave us (5.4% interest rate) we will go bankrupt.

Regards,

Jón Hallur