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Geography Archives: Iceland

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Lessons from a defeat in Europe

The Troika are celebrating the end of negotiations with Greece, proclaiming that thanks to their tireless efforts the Eurozone remains whole.  And why wouldn’t they celebrate?  They have demonstrated their power to crush, at least for now, the Greek effort to end austerity and its associated devastating social consequences.  Tragically, Syriza has not only surrendered, […]

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Greece: Guarding Israel from Freedom Flotilla

Greece: Guarding Israel from Freedom Flotilla

“@USBOATTOGAZA  Iceland Parliamentarian visits boat to show solidarity.  ‘Greece sold its economy to western banks and its politics to Israel.’” — Medea Benjamin, 2 July 2011 Carlos Latuff is a Brazilian cartoonist.  Cf. Fulya Özerkan, “Gov’t Pressure on İHH Divides Group before Flotilla Decision” (Hürriyet Daily News, 16 June 2011); Semih İdiz, “Why the Mavi […]

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The Greek Crisis: Uttering the Other “D Word”

  Default is not the dirty word that nobody wants to say.  Almost everybody now accepts that Greece will default.  Several people will prefer to use the euphemism of “re-profiling debts,” but we all know what it means.  The interesting thing is that at least some authors, like Martin Wolf in a recent Financial Times […]

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From Places Like Mine and Yours

On the progressive potential of small, quasi-autonomous states (like Scotland, Ireland, Greece, Portugal, etc.). . . . The strong Scottish accent was conspiring with the noisy pub background to make it difficult for me to understand the words spoken in my ear by an imposing trade union figure.  Thankfully, I managed to decipher his words, […]

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On the Result of the Icesave Referendum

  The Icelandic nation has now delivered its verdict and shouldered unequivocally the responsibility it is granted by the Constitution.  The turnout was high by Western standards, and this, together with the extensive and thorough debate in the run-up to the referendum, shows clearly how important the issue was to the nation. The people have […]

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Plan B for a Post-Mubarak Egypt?

“Freedom lies behind a door closed shut,” the great Egyptian poet Ahmed Shawqi wrote in the last century.  “It can only be knocked down with a bleeding fist.”  More than that is bleeding in the Arab world at the moment. The uprisings we are witnessing in Egypt have been a rude awakening for all those […]

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Ireland vs Iceland

Ireland vs Iceland

  . . . The travails of the lands of Ire and Ice are not so much at odds with each other and come down essentially to the same point — the size of banking assets to that of the general economy; but they do differ considerably in how the two economies approached the battle. […]

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The IMF and Economic Recovery: Is Fund Policy Contributing to Downside Risks?

Introduction The IMF’s most recent World Economic Outlook (WEO) projects world economic growth will slow, from 4.8 percent in 2010 to 4.2 percent next year.  Throughout the report, there are numerous concerns expressed about the “fragility” of the global economic recovery.  The Acting Chair of the Executive Board states that “[t]he recovery is losing momentum […]

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Fiscal Discipline and All That

Rarely has an economic idea had such a brief revival.  After several years of almost undisputed sway of monetarist ideology over economic policy makers across the world, suddenly Keynesian ideas were back in fashion, in particular the idea that active state intervention in the form of increased state expenditure is necessary to bring a market […]

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Brown

Iceland after the Fall

  Financial crises and uncertainty go hand in hand; some make sacrifices and others plan on having to.  But how many countries stricken by the global crisis actually feel existentially threatened? Iceland does.  Since the start of the kreppa (“catastrophe” in Icelandic) in the fall of 2008, the small island nation of 320,000 has had […]

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Hooman Majd’s Postcard from Tehran

Author and analyst Hooman Majd traveled to Iran last month and has published an initial report from his travels, “Postcard from Tehran,” in ForeignPolicy.com.  Hooman makes a number of important points in his article, which largely reinforce our analysis of Iranian politics since the Islamic Republic’s June 12, 2009 presidential election and of U.S/Western policy […]

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