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Is it important?

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Is it important that iceland is looking at not paying back the money they owe the uk and dutch due to icesave or that the uk does not support iceland joining the eu? Read More
archer1204 Avatar
7y, 6m agoPosted 7 years, 6 months ago
Is it important that iceland is looking at not paying back the money they owe the uk and dutch due to icesave or that the uk does not support iceland joining the eu?
archer1204 Avatar
7y, 6m agoPosted 7 years, 6 months ago
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#1
LOL, when I read this earlier I thought it meant iceland the shop!!
#2
I blame kerry katona :whistling:
#3
Yes, its very important or we will impose sanctions on them.
#4
Lovely country, lovely people, miss the fried penguin and chips meals, yummy.
banned#5
they have already gone down another rating level. They will soon be bankrupt.
#6
kjbenja
Yes, its very important or we will impose sanctions on them.


I don't think they'll give a ****. Sanctions are only when a nation stops trading with another. Britain doesn't have the military power or the balls to blockade Iceland, so other nations will continue trading with that nation.

The only thing Iceland doesn't get is easy credit from the UK, but that's stopped anyway, so what's the loss? It's not like Britain actually makes anything worthwhile compared to other industrial powers.
#7
csiman
they have already gone down another rating level. They will soon be bankrupt.


And so will the UK. I'm sure the UK will fulfill its foreign debt when it starts defaulting on some unpaid debt.... NOT. The pound isn't like the US dollar so it isn't a world reserve currency anymore.

I'm looking forward to when America tells China it can't repay its loans, **** is gonna be funny. China's reaction is gonna be utter rage, and I'll be supporting it. :-D
banned#8
wandereragro;7442575
I don't think they'll give a ****. Sanctions are only when a nation stops trading with another. Britain doesn't have the military power or the balls to blockade Iceland, so other nations will continue trading with that nation.

The only thing Iceland doesn't get is easy credit from the UK, but that's stopped anyway, so what's the loss? It's not like Britain actually makes anything worthwhile compared to other industrial powers.

methinks you need to google whats going on. The world bank will no longer lend them money, the EU wont let them in. The Nordic pact will stop supporting them. Therefore, hyper inflation, mass unemployment. Zimbabwe in the making.
banned#9
wandereragro;7442606
And so will the UK. I'm sure the UK will fulfill its foreign debt when it starts defaulting on some unpaid debt.... NOT. The pound isn't like the US dollar so it isn't a world reserve currency anymore.

I'm looking forward to when America tells China it can't repay its loans, **** is gonna be funny. China's reaction is gonna be utter rage, and I'll be supporting it. :-D

uk interest payments - £32BN. Tax income around £750BN. Hardly bankrupt! It will just mean we have to raise taxes and reduce spending. About time too!
#10
csiman
methinks you need to google whats going on. The world bank will no longer lend them money, the EU wont let them in. The Nordic pact will stop supporting them. Therefore, hyper inflation, mass unemployment. Zimbabwe in the making.


It's already happening, which is why they're defaulting, which is why my post is completely relevant, THEY CAN'T AND WON'T REPAY THE UK.

Direct sanctions from the UK, which is what the poster referred to won't do jack ****. Their credit rating is already bust, which is why I said the UK won't lend them any more money.

Inflation.... already happening.
Unemployment.... already happening.
Credit cut-off.... already happening.

So what's sanctions by the UK gonna do.... :whistling:
banned#11
wandereragro;7442677
It's already happening, which is why they're defaulting, which is why my post is completely relevant, THEY CAN'T AND WON'T REPAY THE UK.

Direct sanctions from the UK, which is what the poster referred to won't do jack ****. Their credit rating is already bust, which is why I said the UK won't lend them any more money.

Inflation.... already happening.
Unemployment.... already happening.
Credit cut-off.... already happening.

So what's sanctions by the UK gonna do.... :whistling:

it will be world sanctions, not just the UK. At least with financial support, they stand a chance of getting out the mire. Without it. they are doomed for generations.
#12
csiman
uk interest payments - £32BN. Tax income around £750BN. Hardly bankrupt! It will just mean we have to raise taxes and reduce spending. About time too!


HAHAHAHA!!

http://www.timesonline.co.uk/tol/news/politics/article6959008.ece

Double that, factor in reduced tax income because of higher unemployed (or possible rioting if it continues increasing) and you've got yourself a nation in decline.

That's before we come to continuing future deficits, which can never be repaid, deficits keep Britain running. Collapsing value of the Sterling, which is happening (don't feed me any bull on coparison to the US dollar, both are declining currencies), as well as increasing costs of burdens of SS, NHS etc = Bad times.

These debts can not and never will be repaid, until one day they pile up and nations default. Reminds me of Dick Cheney "Deficits don't matter"... oh yes they do Dick, yes they do.

EDIT: Oh almost forgot, this is precluding the idiotic notion that governments can actually cut budgets, which they're mostly incapable of doing. Most GDP growth in the UK is government dependent on spending, cut government spending you cut growth, further accelerating decline, amongst standard of living etc.
#13
csiman
it will be world sanctions, not just the UK. At least with financial support, they stand a chance of getting out the mire. Without it. they are doomed for generations.


I don't believe it will be world sanctions. Nations have defaulted before without such ramifications and Iceland will be no different. As long as Iceland has something to trade others will trade with them, Chinese don't care.

Case in point look to defaults of Argentina, Mexico etc. Britain moaning isn't going to get the world on their side against Iceland.
#14
Watch greeces economy over the next year to see if the uk is headed down the same path

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