No, Greece is toast. The simple bottom line truth about debt is that the problem occurs when the aggregate return on assets is less than the service cost of the debt. The only solution to a debt problem is to invest in the creation or maintenance of assets. You have to grow the asset base. Greece is hopeless. Ireland, like Iceland can turn it around...but not by borrowing new debt to roll over old debt, while at the same time starving capital investment in assets.
with the PIIG mess Iceland is laughing at the rest of Europe. rightfully so. If the finance minister had deigned himself to read ET he would be laughing very heartily at the posters who were predicting dire consequences to Iceland because of her actions. where are the troops? oh. they are in libya.
http://www.reuters.com/article/2011/07/19/us-greece-ratings-idUSTRE76I5M220110719s Icelanders are laughing their... off. I am laughing at the posters who were predicting dire consequences for Iceland i..e international parvenus etc.
Are you sure that this is the same story zdreg was referring to? This one's about Greece mostly, as far as I can tell, and I am not sure what its relevance to Iceland is.
Open zdreg's original URL, then remove the last letter (which happens to be "s") from the URL... you'll get the link I posted. I doubt it's a pure coincidence.
DUH! You're right, I should be more observant... But then I'll have to wait for zdreg to tell me what the significance of this news for Iceland is.
correct but I am not sure what u are saying. did u post that link prior to my posting which had an error in it?