[Praticamente nada se discute sobre a solução Islandesa, como convém ao regime Fascista em consolidação em Portugal, instalados pelo Bloco Central (PS+PSD+CDS). Mas aqui vos deixo um texto muito esclarecedor. Deveríamos fazer o mesmo, mas a soicedade civil em Portugal tem definitivamente que se organizar, para combater a desgraça destes "lobbies" retrógrados, sem visão e sem patriotismo, que se apoderaram da nação lusa. AZ]
Iceland’s economy suffered a meltdown in 2008, with its banks defaulting on $85 billion. In 2009 its citizens took to the streets and demanded action from the government against those they saw as responsible for the crisis. The government responded, putting people before markets, and now Iceland’s economy is outgrowing the euro one and, on average, the developed world.
Bloomberg reported that after it was determined in October 2008 that the banks could not be saved, the government intervened. It ring-fenced domestic accounts and shut out international creditors. Iceland’s central bank prevented the sell off of krona through capital controls, and new banks were created that were controlled by the state. Then the government and the state-controlled banks agreed that amounts in excess of 110% of home values would be forgiven on mortgages.
The country’s supreme court also ruled in 2010 that debts indexed to foreign currencies were illegal, which saved households from having to cover losses resulting from drops in the value of the krona.
An Icelandic Financial Services Association report cited by Bloomberg pointed out that the country’s banks have forgiven loans amounting to 13% of Iceland’s GDP. That lessened the debt load of the population.
In addition, the government is investigating, and prosecuting, numerous prominent figures from the meltdown. Currently more than 200 face criminal charges and a special prosecutor has said as many as 90 may be indicted.
Lars Christensen, chief emerging markets economist at Danske Bank in Copenhagen, was quoted saying, “You could safely say that Iceland holds the world record in household debt relief. Iceland followed the textbook example of what is required in a crisis. Any economist would agree with that.”
The result? According to the Organization for Economic Cooperation and Development, Iceland’s economy is in line to expand 2.4% both this year and next, after growth of 2.9% last year and in the wake of shrinkage of 6.7% in 2009. In contrast, the OECD estimated in November that the euro area will only expand by 0.2% and the OECD area by 1.6% in 2012.
Not only that, but the cost to insure against an Icelandic default is about the same as to insure against a credit event in Belgium. And Icelanders are no longer eager to join the eurozone. Most would rather stay solo. Housing as an element of the consumer price index is only down about 3% from what it was in September 2008, just prior to the collapse.
Fitch Ratings just last week also conceded that Iceland’s approach has worked, raising the country’s rating to investment grade with a stable outlook. At the time it said that Iceland’s “unorthodox crisis policy response has succeeded.”
Thorolfur Matthiasson, an economics professor at the University of Iceland in Reykjavik, was quoted saying, “The lesson to be learned from Iceland’s crisis is that if other countries think it’s necessary to write down debts, they should look at how successful the 110% agreement was here. It’s the broadest agreement that’s been undertaken.”
According to Christensen at Danske Bank, “the bottom line is that if households are insolvent, then the banks just have to go along with it, regardless of the interests of the banks.”
Iceland’s economy suffered a meltdown in 2008, with its banks defaulting on $85 billion. In 2009 its citizens took to the streets and demanded action from the government against those they saw as responsible for the crisis. The government responded, putting people before markets, and now Iceland’s economy is outgrowing the euro one and, on average, the developed world.
Bloomberg reported that after it was determined in October 2008 that the banks could not be saved, the government intervened. It ring-fenced domestic accounts and shut out international creditors. Iceland’s central bank prevented the sell off of krona through capital controls, and new banks were created that were controlled by the state. Then the government and the state-controlled banks agreed that amounts in excess of 110% of home values would be forgiven on mortgages.
The country’s supreme court also ruled in 2010 that debts indexed to foreign currencies were illegal, which saved households from having to cover losses resulting from drops in the value of the krona.
An Icelandic Financial Services Association report cited by Bloomberg pointed out that the country’s banks have forgiven loans amounting to 13% of Iceland’s GDP. That lessened the debt load of the population.
In addition, the government is investigating, and prosecuting, numerous prominent figures from the meltdown. Currently more than 200 face criminal charges and a special prosecutor has said as many as 90 may be indicted.
Lars Christensen, chief emerging markets economist at Danske Bank in Copenhagen, was quoted saying, “You could safely say that Iceland holds the world record in household debt relief. Iceland followed the textbook example of what is required in a crisis. Any economist would agree with that.”
The result? According to the Organization for Economic Cooperation and Development, Iceland’s economy is in line to expand 2.4% both this year and next, after growth of 2.9% last year and in the wake of shrinkage of 6.7% in 2009. In contrast, the OECD estimated in November that the euro area will only expand by 0.2% and the OECD area by 1.6% in 2012.
Not only that, but the cost to insure against an Icelandic default is about the same as to insure against a credit event in Belgium. And Icelanders are no longer eager to join the eurozone. Most would rather stay solo. Housing as an element of the consumer price index is only down about 3% from what it was in September 2008, just prior to the collapse.
Fitch Ratings just last week also conceded that Iceland’s approach has worked, raising the country’s rating to investment grade with a stable outlook. At the time it said that Iceland’s “unorthodox crisis policy response has succeeded.”
Thorolfur Matthiasson, an economics professor at the University of Iceland in Reykjavik, was quoted saying, “The lesson to be learned from Iceland’s crisis is that if other countries think it’s necessary to write down debts, they should look at how successful the 110% agreement was here. It’s the broadest agreement that’s been undertaken.”
According to Christensen at Danske Bank, “the bottom line is that if households are insolvent, then the banks just have to go along with it, regardless of the interests of the banks.”
Eu acredito que os comunistas ou os bloquistas, e falando do Verdes, então esses, tinham o meu voto e o de muitos na hora se se deixassem de criticar e colocarem medidas claras e concisas na mesa.
ResponderEliminarSejam claros e concretos: só vos vejo a ser isso nas criticas duras que fazem ao Governo. já sabemos que eles não são tão bons mas será que vocês faziam melhor?
Digam então concretamente o que faziam: não tenham medo que os outros vos tirem as ideias - o povo lembra-se sempre de quem as teve primeiro, principalmente se for dito na televisão, aos olhos de todos.
Caríssimo: eu não sou político, nem pertenço a nenhum partido. O que eu tenho visto ao longo da última década é uma tragédia. Há que combater a corrupção, limitar ao máximo a influência de grupos poderosos ligados a grandes corporações, Banca, e famílias poderosas que mandam em Portugal (os suiços fizeram tudo isso aquando da formação da Conferação Helvética). Há que reduzir o peso do Estado na vida dos cidadãos, reduzindo o peso dos impostos que martirizam a população. Há que racionalizar o aparelho de estado, ao serviço dos interesses supracitados, há que melhorar os serviços do Estado (que o justificam!), a saúde e a Educação (que é uma questão de soberania, como o disse ontem o Prof. Adriano Moreira). Há que modificar o estado mental da população e sobretudo dos jovens, artilhando as mentes com sabedoria e conhecimento, que permitam a nação ganhar autonomia, preparando-a para o futuro que se avizinha e que constitui um sério desafio. Há que organizar o território, abandonado, as florestas, cultivar a terra e financiar a agricultura naquilo que ela necessita, para que haja alimento. Há que estudar formas de energia que embarateçam os preços da energia, etc, etc,. enfim, todo um rol de actividades que levaria a um novo artigo deste blogue. Mas sobretudo, há que fazer tudo isso com autenticidade!
ResponderEliminar