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Iceland goes broke?

Started by kgr, October 07, 2008, 04:16:59 pm

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kgr

October 07, 2008, 04:16:59 pm
http://business.timesonline.co.uk/tol/business/economics/article4898553.ece

Do one of you brilliant minds have a thought on this.  No sarcasm.  You $ guys are way above me on this stuff. 

What bothers me is the fact Russia is bailing them out.  How will that play out.  You know it isn't just a financial transaction since Russia's market is totally tanked and they spend $ to fix Iceland.

What have we learned in 2,064 years?

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to
work,  instead of living on public assistance."
                                                               -
Cicero   - 55 BC

So,   evidently nothing.
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