Iceland going the way of Argentina?

[peat]

From within an email from Stratfor today

The second problem is the international character of the crisis. An example from the Icelandic meltdown is relevant.The government of Iceland promised to repay Icelandic depositors in the island country’s failed banks. They did not extend the guarantee to non-Icelandic depositors. Partly they simply didn’t have the cash, but partly the view has been that taking care of one’s own takes priority. Countries do not want to bail out foreigners, and different governments do not want to assume the liabilities of other nations. The nature of political solutions is always that politicians respond to their own constituencies, not to people who can’t vote for them.

[arco]

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I noticed this yesterday on newsnow......I wonder how many others have been caught out with large sums....

Lancaster(UK) City Council had invested £6 million in three different banks in Iceland - which it now can't get it's hands on.

http://www.thelancasterandmorecambec...celandic_bank/

[Sheikh Al-Kadhem]

http://news.bbc.co.uk/2/hi/uk_news/politics/7673248.stm

I think it's quite funny actually .

[Tok3n]

Looks like Argentina is going the way of Argentina!

[Sheikh Al-Kadhem]

Looks like Argentina is going the way of Argentina!

Full story here.

[AMR]

I'm sure Iceland will come out on top with that lawsuit against the UK. All they have to do is drop a few phrases such as "greater co-operation with Russia", "Russian naval base", etc.

Not worth crying for Argentina, the truth is I never left money there, all through these wild swings, the mad existence, I kept my diversification, I kept my distance.

(Ok, that was horrible)