Description:
News, events, analysis, opportunities and developing strategy on "How African Nations Could Bridge the Developing Gap"
Contents:
Are Icelanders making History?
In a previous delivery the dire economic situation existing currently in The Republic of Iceland - heavily hit by the financial crisis, had been briefly exposed. <br><br>
The referenced article stating, the actual plight of Iceland is an interesting case-study, to compare with African countries's ones, submitted since the mid 1980s to Adjustment Structural Programs (SAP). <br>On October 7, 2009, Birgitta Jónsdóttir, a leading member of the Icelandic parliament has called for the country to declare a debt moratorium and stop to pay the $6 billion which the British and Netherlands governments are seeking to extort from Iceland with the help of the International Monetary Fund, the World Bank, and European Commission in Brussels.<br><br> The "revolt"of Icelanders is daily gaining momentum, and the president of the country, Olafur Grimsson's refusal to sign the unpopular IceSave bill into law on January 5, 2010 plunged Iceland into crisis. Indeed, opposition leaders - and in fact the majority of Iceland people - are ready to push for the referendum even if that would jeopardize the adhesion to the European Union.<br><br> And of course, "The International Community" is lobbying to stop the referendum. A very interesting case to watch. <br><br>Would the Icelanders buy into the trick or would they go ahead holding the referendum to stop paying debts they are not responsible for engineering - and therefore make history? Let us wait and see. <br><br>Anyway, the problem is no more circumvented to Iceland. Other developed countries, Greece, Portugal, Spain and many other countries from the eastern part of the European union are almost in the same boat as Iceland, reeling under "colossal" debts and huge budget's deficits. So now, African nations are no more the only ones shackled by crippling debts. <br><br>Click here to read about The End of an Era: Part I: The Collapse of a Predatory Economic System
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