Iceland spirals out of control

The world’s media gives a bird’s eye view into the escalating crisis in Iceland:

...”(Iceland) is experiencing the fastest economic fall in history”...       CNN    

“75% of companies in Iceland are bankrupt”...       CNN

“The face-off between one of Iceland’s most experienced political brawlers (David Oddsson) and Johanna Sigurdardottir, the country’s neophyte prime minister, is likely to further undermine international confidence in Iceland’s ability to handle the most severe economic crisis in recent history.”    Financial Times

“We won’t pay German savers of Kaupthing, we have lost everything”  Iceland President Olafur Ragnar Grimson in an interview with  Deutche FT

“For international investors, the sight of a country’s prime minister and central bank governor engaging in a bitter public row will do little to shore up confidence in the administration’s problem solving abilities”   Financial Times

“The misunderstood President of Iceland, Olafur Ragnar Grimsson, comes across as an aggressive hothead”     Frankfurter Algemeine Zeitung

“The management of the Icelandic Kaupthing bank were "not fit and proper" to control a UK bank, MPs have been told.”    BBC

“Mr Jóhannesson (Chairman of Baugur) told the Financial Times in October that the model had been correct ... the fault lies not with his business practices but at the feet of an old foe: David Oddsson, the central bank governor”   Financial Times


And if you are in a need of a bit of pick-me-up after reading this how about listening to Peter Green’s CD, Little Dreamer.  The song “Loser Two Times”  probably sums up how many people are now feeling:   “I lost my money, I lost my girl  ...  and now I almost lost my mind....”