Iceland now wants to join the EU!

! This post hasn't been updated in over a year. A lot can change in a year including my opinion and the amount of naughty words I use. There's a good chance that there's something in what's written below that someone will find objectionable. That's fine, if I tried to please everybody all of the time then I'd be a Lib Dem (remember them?) and I'm certainly not one of those. The point is, I'm not the kind of person to try and alter history in case I said something in the past that someone can use against me in the future but just remember that the person I was then isn't the person I am now nor the person I'll be in a year's time.

The Bank of England is loaning £100m to the UK arm of Landsbanki so that it can repay its UK customers.

Landisbanki was nationalised by the Icelandic government last week and its UK arm closed down leaving customers here unable to access their money.

The Icelandic foreign minister has responded to the economic problems there – national debt at 500% of GDP and their top 3 banks nationalised – by saying that their long term goal is now to join the EU and the Euro and get bailed out by the European Central Bank.  No, that’s not a joke.  He said:

In the short term, out defence is co-operation with the International Monetary Fund and in the long term EU membership, adoption of the euro and backup from the European Central Bank.

So what he is, in fact, saying is that the English taxpayer will be bailing out one of their now state-owned banks and then bailing out the entire country if it joins the EU and becomes a net recipient of EU funding.  Not what I would call a good deal for the English taxpayer and if they do go down the route of joining the EU, not a good deal for Icelanders.  Their economy is up shit creek now but if they join the EU their paddles will be confiscated and given to a French farmer to use as kindling to set fire to his fields.  The Icelandic economy was, until recently, reliant on fishing, banking and services.  Banking is a no-brainer from now on, services are looking a bit dubious but fishing will at least let them feed themselves.  But not with an EU fishing quota though – they’ll end up throwing more back in the sea than they take home and that’s assuming the Spanish don’t get the quotas first like they did in our waters.

I wonder if the Icelanders have an equivalent phrase for “out of the frying pan and into the fire”.

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  1. Charlie Marks (365 comments) says:

    At first, I thought that this whole Iceland thing meant that the councils had stashed their cash in freezers and asked Kerry Katona to look after it…

  2. wonkotsane (1133 comments) says:

    Now that’s a shareholder meeting I’d turn up to. 😉

  3. John Franklyn (59 comments) says:

    She could get £800 mil in each cup !!!

  4. axel (1214 comments) says:

    The only reason the spanish boats have our quotas is that our guys sold them, the only ones they did not buy were the shitty ones up our way that aint worth dick

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