SubscribeIceland Government First To Fall Due To Credit Crunch
The government of Iceland today became the first to be effectively brought down by the credit crunch.
After several nights of rioting over the financial crisis, Prime Minister Geir Haarde, surrendered to increasing pressure and called a general election for May.
A poll would not normally be held until 2011.
Protests had been held weekly since the crisis broke last year, but since Tuesday have been held every night.
On Thursday, police used teargas on demonstrators for the first time since protests against the North Atlantic island’s entry into the NATO alliance in 1949.
My comment: Iceland is not really known for being filled with rowdy people but this goes to show what people will do when they feel they have lost everything. I wonder whats going to happen in the US when the beer buzz wears off and people realize the economy is on tilt. It will make Iceland look like a church picnic.
John Polomny
The Real Deal
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