Are icy times over in Iceland ?

The financial meltdown of leveraged icebergs started in 2007 a global economic ice-age. While credit has been, in all purposes, frozen for the last four years, the growth prospects have been ice-cold, and while governments in the western part of the world have applied massive stimulus to what is essentially a severely frost-bitten part of the economy, the financial waters are starting to become fine for a tiny European country: Iceland.

It`a all Greek to them!

The Greek tragi-comedy continues: an early agreement to secure an 130 billion euro rescue package from the Troika (the European Commission, the IMF and the European Central Bank) is getting less and probable. The officials failed to reach common ground on the sensitive issue of job cuts, lowering pensions and reducing the statutory minimum wage. IMF requests, or let`s say recommends Papadendreou to sack approximately 15,000 government employees and reduce primary pensions by nearly 20% in order to cut the budgetary deficit by 3 billion euro in 2012.