When the Global Financial Crisis hit, people like the Washington Post reported that Iceland was destined to experience a collapse. When it did, it did so in dramatic style.
The country’s three big banks defaulted and austerity measures were quickly introduced. Capital controls meant there were limits on how much money people could withdraw. The government was bailed out to the tune of $4.6 billion. It was mayhem but out of that mayhem the public demanded change. That change has been championed by the Pirate Party.
Bankers went to jail, banks nationalised and change happened rapidly. One year on and Iceland was back at the table with it’s head held high. Every other country caved in to the bankers’ bluff and handed over endless quantities of money.
The bankers, feeling suitably contrite(end sarcasm), went off to the gambling dens whence they came from and the cocaine fueled party continued. Libor came and went and, as Ry Cooder sang “No banker was left behind, no banker went to Jail”
With the recent rise of the Pirate Party in Sweden and Iceland, the Millennials have finally engaged in politics and look set to overthrow the Icelandic Parliament, bringing revolution to the masses. A fantastic ‘System reset’ in the wings.
Now, to bring that to the apathetic Western ‘democracies’ – just imagine a country run FOR the people, not the corporates and corrupt politicians.
John Lennon would be proud :