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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 07/23/2009 : 09:30:29
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They target your currency, they tempt you with easy money, they suck you into over consumption and taking on all kinds of a loans. Then when the time is right, they pull the rug out from under you and your currency and economy collapses. What do you do next? Come on you have no choice...you beg to join them.
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Iceland formally applies to join European Union
Iceland formally applies to join European Union, faces tough talks on fishing rights
By Karl Ritter, Associated Press Writer
On Thursday July 23, 2009, 6:25 am EDT
STOCKHOLM (AP) -- Iceland's foreign minister on Thursday handed over the country's application to join the European Union, a move Icelanders hope will bring economic stability.
The small North Atlantic island, with only 320,000 residents, is expected to meet many of the membership criteria, but faces difficult negotiations over its fisheries sector, a key part of the Icelandic economy.
The independent-minded Icelanders are concerned that EU rules would give European fishing fleets access to Iceland's waters.
"To be frank with you, if we would get a rotten deal on fisheries, the Icelandic people would be quite angry," Foreign Minister Ossur Skarphedinsson said after presenting the EU application to his Swedish counterpart, Carl Bildt. Sweden currently holds the EU presidency.
"This is not only an issue of economics. It is also an emotional issue. It is also and issue related to sovereignty," said Skarphedinsson, a former fisherman.
He said he was confident the two sides would "find a solution that will be acceptable for both the existing framework of Europe and to our special needs as a nation."
In 2007, fishing employed 4 percent of Iceland's work force, just over 7,000 people. But seafood accounted for almost half of Iceland's exports and 10 percent of gross domestic product.
Iceland's parliament last week voted to seek EU membership as a way to stabilize the country's economy, which was one of the first causalities of the global recession after years of strong growth.
The EU has to approve the accession and Iceland will also hold a referendum on the issue.
Financial deregulation, a stock market boom and a surging krona helped Icelandic entrepreneurs go on a global buying spree, snapping up businesses from Britain's Hamleys toy store to the Karen Millen clothing chain. Iceland's banks drew depositors from around the world with too-good-to-be-true savings rates.
The over-stretched banks collapsed under the weight of debt amassed during the years of light regulation and retailers went bankrupt. The country's currency, the krona, has plummeted, while unemployment and inflation have spiraled.
Iceland is already part of the European Economic Area, a trading block that gives Icelanders the right to live and work in the EU while allowing the country to run its own agricultural, fishing and monetary policies.
Associated Press Writer Malin Rising contributed to this report.
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 07/23/2009 : 10:20:17
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The small Icelandic central bank went down into history as unable to stem their financial crisis. Icelanders thought the borrowing could go on forever.
If our Federal Reserve is sundered, they will take down the rest of the financial world down with them. Of course, those of us who have some "real money" will preserve some wealth no matter what the outcome. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 07/23/2009 : 13:06:11
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quote:
horgad Posted - 07/23/2009 : 09:30:29
They target your currency, they tempt you with easy money, they suck you into over consumption and taking on all kinds of a loans. Then when the time is right, they pull the rug out from under you and your currency and economy collapses. What do you do next? Come on you have no choice...you beg to join them.
Funny how that ended up working out for them (the EU) isn't now...
There now - Here later.
As Jean-Luc Picard said "You will be assimilated".
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L1011
Penny Collector Member
310 Posts |
Posted - 07/23/2009 : 17:27:37
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quote:
Originally posted by redneck
quote:
horgad Posted - 07/23/2009 : 09:30:29
They target your currency, they tempt you with easy money, they suck you into over consumption and taking on all kinds of a loans. Then when the time is right, they pull the rug out from under you and your currency and economy collapses. What do you do next? Come on you have no choice...you beg to join them.
Funny how that ended up working out for them (the EU) isn't now...
There now - Here later.
As Jean-Luc Picard said "You will be assimilated".
>
Yep, thrown into the "Melting Pot", it's all down-hill now.... |
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Iceland
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