Letters about Iceland economy

One of the Zen Center Members is corresponding with someone from Iceland. here are two of her communications. Quite shocking.

hi Barbara, Facebook is a wonderful thing, isn´t. Good to hear from

you again and I can hear you are enjoying your stay in Italy.

The situation in Iceland is not good at all. It´s like Eron fraud

for a whole nation. Three our biggest banks are bankrupt, and many

people invested in them and lost everything. I had few shares in one

of them and lost everything. Also all my savings is gone, my

retirement savings is gone, like for the most people here. Most

retirements funds invested in the banks and that is zero today. The

stock market collapsed.

Along with the world bank crisis, in Iceland the situation is extra serious as a few

young business men were gambling with our money and making them huge rich. And some of the money went to lavish parties and excursions for them, expensive homes, golf club memberships, holiday properties, huge salaries, personal jets and expensive yachts.They have all disappeared like rats and left the Icelandic nation traumatized. People are angry, sad and mourning.

Everything is collapsing, people losing their jobs, no money is coming

to the country and this winter will be difficult for us. The good thing is that the Icelandic nation is optimistic and hard working and through the years been hit by crisis and often by nature (but not by some stupid young men) and bounced back again. The bank managers for the new Icelandic banks are women, that is positive :-). Banks are going bankrupt and economy is bad all over the world but this crisis hit our small nation very hard.

All my best to you and your family

hi Barbara, yes you can share this with the world. The image of Iceland is down and ordinary people are afraid to travel abroad because we don´t feel save. those banker and businessmen were so greedy that they establish banks and bought companies (not for their money, with loans) all over the Europe, mostly in England, Holland and in Scandinavia.

These banks and companies are also down and people in those countries blame the Icelandic nation for that and show us attitude. We as a nation has nothing to do with it and the nation is bankrupt, we are all suffering and the next generation will pay for it as well. The inflation is going up and pessimistic predict 75% inflation by the end of the year.

The government of England put their terrorist laws against Iceland. You can read about it on-line the newpapers in England for the past days and see how we are treated as a nation. Students abroad are not getting the students loan transferred because banks abroad have closed business with everybody from Iceland. It´s not fair, but hopefully we learned something from this and this corporate greediness will not control the world anymore. (Am I too optimistic).

Another thing that might happen is that young people will move from Iceland. But we stick together as a nation and are like a one big family helping each other.

best regards to you and your family