Iceland government falls

[Helen Reyes]

Iceland government falls. It wont be long before Ukraine, Greece, Latvia, Lithuania join them. Maybe more. There is talk about the UK government going in the not too distant future. Exiled to the Isle of Mann


http://www.smh.com.au/news/world/iceland...79247.html

The Lithuanian pension system today forecast a vast deficit for this year with accelerating deficits for the next 5 years and beyond. The IMF was very active in "pensions reform" in Lithuania in 1999/2000. The birth/death ratio is definitely listing toward the aged, while the self-proclaimed conservative government engages in a subtle form of whipping up anti-Semitic sentiments, despite the almost total lack of any resident living Jews to target. The Latvian economy was almost totally dependent on foreign leveraging and cheap debt.

In better news, Finland, Sweden and some other states have come out in full favor of the Russian natural gas pipeline to Germany via the Baltic Sea bed, and ugly kid Berlusconni is in favor of increased economic cooperation with Russia involving capital projects. That leaves the 3 Baltic states pretty much isolated in their opposition to the free flow of comparatively cheap gas to the EU (they had wanted to set their own transit fees and keep a hand on the spigot as a sort of liberum veto over EU energy policy).