Iceland’s recent vote not to repay billions of dollars owed to Britain and the Netherlands underscores the growing risk involved in bailing out sovereign debtors. When Icesave, an Iceland-based Internet bank, collapsed back in 2008 along with most of Iceland’s banking sector, the tiny North Atlantic nation nearly collapsed along with it. Fortunately for the short term, Britain and the Netherlands agreed to bail out Iceland’s depositors in Icesave.
Not content with the constant video surveillance of her subjects, Her Majesty’s government has now begun monitoring their rubbish, as well. According to information obtained by the pro-privacy group, Big Brother Watch, various councils (local municipal governments) have surreptitiously planted 2.6 million of the microchips in the garbage bins of unsuspecting Britons.
Icelandic voters went to the polls over the weekend and delivered an overwhelming blow to bankers and governments attempting saddle the people with billions of dollars in debts to foreign states stemming from the failure of a private bank.
Can music be a weapon? Undoubtedly Gen. Manuel Noriega thought so, when U.S. troops blasted his hideout — the apostolic nunciature — with rock music during the invasion of Panama in December 1989. According to the United States Southern Command After Action Report detailing the events of “Operation Just Cause,” troops were asked to furnish suggestions for the “play list” of tunes for blasting the Panamanian dictator during the siege of the nunciature:
Let us be perfectly clear: The fiscal woes of Greece, one of the European Union’s weaker economies to begin with, are quite likely beyond even the abilities of the denizens of Mount Olympus to solve. Greece, a thoroughgoing socialist basket case for decades, is probably going to lead the rest of the soft economic underbelly of Europe — Spain, Portugal, and eventually, Italy – into insolvency, a chain of events that may dissolve Europe’s decades-old experiment in economic unity.