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Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

Trump hosts former head of Syrian Al-Qaeda Al-Jolani to the White House Tue Nov 11, 2025 22:01 | imc
Was that not what the War on Terror was about ?
Today things finally came full circle. It was Al-Qaeda that supposedly caused 9/11 and lead to the War on Terror but really War of Terror by the USA and lead directly to the deaths of millions through numerous wars in the Middle East.

And yet today the former head of Syrian Al-Qaeda, Al-Jolani was hosted in the White House by Trump. A surreal moment indeed.

In reality of course 9/11 was orchestrated by inside forces that wanted to launch the War of Terror and Al-Qaeda has been a wholly backed American tool ever since then.

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2025
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Iceland Out of Recession

international | eu | other press

Wednesday December 08, 2010 09:57

by Baggie

Report this post to the editors

Iceland out of recession reports Guardian.

Burn the Bondholders!

http://www.guardian.co.uk/business/2010/dec/07/iceland-...arter

Iceland exits recession
Decision to force bondholders to pay for banking system's collapse appears to pay off as economy grows 1.2% in third quarter

• Phillip Inman
• guardian.co.uk, Tuesday 7 December 2010 20.18 GMT
Nobel prize winner Paul Krugman has repeatedly called on Ireland, Greece and Portugal to consider leaving the euro area and defaulting on debts. Photograph: Mike Clarke/AFP/Getty Images
Iceland's decision two years ago to force bondholders to pay for the banking system's collapse appeared to pay off after official figures showed the country exited recession in the third quarter.
The Icelandic economy, which contracted for seven consecutive quarters until the summer, grew by 1.2% in the three months to the end of September.
Iceland famously agreed in a referendum to reject a scheme to repay most of its debts that were once worth 11 times its total national income.
In contrast to Ireland, Iceland's taxpayers refused to foot the bill for the debts accumulated by the banking sector. Bondholders were told to accept dramatic reductions in the value of repayments on bank debt after the sector borrowed beyond its means to fund ambitious investments abroad.
The return to growth is likely to put pressure on Irish politicians to explain why Dublin rejected a more radical restructuring of its debts and a departure from the eurozone.
Iceland's currency has fallen by around a quarter, helping its exports.
Economists on the right and left have recommended country deep in debt restructure repayments with bondholders, in effect writing off much of the debt.
Nobel prize winner Paul Krugman (pictured) has repeatedly called on Ireland, Greece and Portugal to consider leaving the euro area and defaulting on debts.
Iceland's recession has proved less severe and shorter than many analysts and the International Monetary Fund had feared.

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