ST Alpha - "that lil island has so much toxic debt they could "greece" canada as bad asthe euro -- nm" (Reading a Post)

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In response to "Iceland is interested in adopting the Canadian dollar as its currency -- (link)" by Reagen

that lil island has so much toxic debt they could "greece" canada as bad asthe euro -- nm

Posted by zeitgeist Mar 2 '12, 11:54

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Responses:

Iceland has an entire population of someting like 300,000 people. it's like a suburb. -- nm - Andie Mar 2, 11:55 10
- They debt is so bad, that little suburb could probably bankrupt your banking system -- nm - decline Mar 2, 12:06 4
  - That's not how this works though. We don't take on their debt - it's not an economic union. -- nm - Reagen Mar 2, 12:08 3
    - not to mention, Iceland has handled their debt crisis remarkably well. -- (link) - Andie Mar 2, 12:10 1
      - good point, forgot the debt forgive But look what they did to their banks? our bankers still run the show and are doubling down for more - zeitgeist Mar 2, 12:24
    - They don't get to say how many Canadian $ are printed either. -- nm - Roger More Mar 2, 12:09
- and?...how many of them were idiot 'investment' bankers thatbroughtthe country to emense wealth nd so deep in a hole bankruptcy overnight? - zeitgeist Mar 2, 12:02 4
  - Average external debt per Icelander: $10,000. Average external debt per Canadian: $30,000 - Roger More Mar 2, 12:07 2
    - from npr, maybe old now, but beforethe crisis, many consumers bought homes/cars in euros, after crisis those $50k cars cost $500k -- nm - zeitgeist Mar 2, 12:15 1
      - which is why they want to have a currency that is used by more than 300,000 people and is less susceptible to massive devaluation against other - Roger More Mar 2, 12:20
  - I think if they work it just right, they can have a financial and a volcanic meltdown *at the same time*... -- nm - con_carne Mar 2, 12:07

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