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A great thing about autonomy is the ability to quickly solve national problems. Compare and contrast non-EU Iceland and EU Greece. Both came near to collapse du

A great thing about autonomy is the ability to quickly solve national problems. Compare and contrast non-EU Iceland and EU Greece. Both came near to collapse due to financial crises. Iceland jailed the bankers and recovered. Greece is in the EU straight-jacket, the corrupt bankers became kings and the people will be in debt bondage for decades. Brexit is comparable to the Berlin Wall falling. Like the Soviet Union, the technocratic elites could not imagine it collapsing until the people willed it.

pimterry 10y ago
> Greece is in the EU straight-jacket The lack of freedom for Greece to manage its finances is because it's a member of the Euro, not the EU. That isn't really relevant to the UK. And as far as I know, neither the Euro nor EU laws limited the Greeks' ability to prosecute their bankers. Is there a reason those are connected?
- atmosx 10y ago
  > And as far as I know, neither the Euro nor EU laws limited the Greeks' ability to prosecute their bankers. Same could be said for Ireland[1]. You might wanna take a closer look. In the words of M. Thatcher: "He who controls interest rates in Europe, controls Europe." [1] https://www.youtube.com/watch?v=pnG0bq77N8w https://www.youtube.com/watch?v=pnG0bq77N8w]
ben_w 10y ago
If Greece could have solved their problems the same was Iceland did, they would have done so. The reality is Greece was economically dependent on a lot of business that stopped when the Credit Crunch hit, but Icleand had relatively small problems with three banks defaulting after a bank run and loss of access to credit, about 10% reduction in real-terms GDP. "Relatively small", because UBS was warning the Greece faced hyperinflation, military coup, civil war — and that was just from leaving the Euro and revaluing their currency in an orderly default where they didn't have to repay everything. It's not just the EU that told Greece what to do, the IMF is part of the Trokia.

pimterry 10y ago

> Greece is in the EU straight-jacket The lack of freedom for Greece to manage its finances is because it's a member of the Euro, not the EU. That isn't really relevant to the UK. And as far as I know, neither the Euro nor EU laws limited the Greeks' ability to prosecute their bankers. Is there a reason those are connected?

atmosx 10y ago
> And as far as I know, neither the Euro nor EU laws limited the Greeks' ability to prosecute their bankers. Same could be said for Ireland[1]. You might wanna take a closer look. In the words of M. Thatcher: "He who controls interest rates in Europe, controls Europe." [1] https://www.youtube.com/watch?v=pnG0bq77N8w https://www.youtube.com/watch?v=pnG0bq77N8w]

ben_w 10y ago

If Greece could have solved their problems the same was Iceland did, they would have done so. The reality is Greece was economically dependent on a lot of business that stopped when the Credit Crunch hit, but Icleand had relatively small problems with three banks defaulting after a bank run and loss of access to credit, about 10% reduction in real-terms GDP. "Relatively small", because UBS was warning the Greece faced hyperinflation, military coup, civil war — and that was just from leaving the Euro and revaluing their currency in an orderly default where they didn't have to repay everything. It's not just the EU that told Greece what to do, the IMF is part of the Trokia.