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Since most/all of Iceland’s prosperity in the last decade was derived from a burgeoning financial sector, all of its banks immediately defaulted and were nationalized; the government raised interests rates to 18% or so to secure a do-or-die loan from the evil IMF, leading other European countries to call them losers and de-friend them, and voila: welcome to the THIRD WORLD, Iceland! Hope you remembered to pack a lunch! This was the backdrop for this week’s developments, in which every government official got cancer and resigned, and then the government *itself* resigned, and now they’re just going to let some lesbian run everything. (via Wonkette  : Iceland, The Country, Basically Gives Up) —thanks to dyfl!

Since most/all of Iceland’s prosperity in the last decade was derived from a burgeoning financial sector, all of its banks immediately defaulted and were nationalized; the government raised interests rates to 18% or so to secure a do-or-die loan from the evil IMF, leading other European countries to call them losers and de-friend them, and voila: welcome to the THIRD WORLD, Iceland! Hope you remembered to pack a lunch! This was the backdrop for this week’s developments, in which every government official got cancer and resigned, and then the government *itself* resigned, and now they’re just going to let some lesbian run everything. (via Wonkette  : Iceland, The Country, Basically Gives Up) —thanks to dyfl!