TW: This is the stuff that gets me concerned about exactly where we are headed. Obviously Iceland is very small, tiny in fact (300K people) but political unrest is fermenting in many places in particular throughout Europe. Interestingly it is the more affluent nations that have had the greatest rumblings.
These are the times that test the assumptions which underlay societies economic and political structures. Globalization (a positive force from my perspective) will be under stress. Where the political unrest goes no one knows, but rest assured if the economic malaise continues for much longer it will grow quickly.
From Der Spiegel:
"Icelandic Prime Minister Geir Haarde, rattled by the financial crisis and widespread anti-government protests, called early national elections for May 9 on Friday and announced he was stepping down.
...Iceland, the epicenter of the banking crisis, saw huge debts toppling its banks last autumn. Its fragile economy is expected to contract by 10 percent this year. Faced with rocketing unemployment and rising inflation, Icelanders have increasingly taken to the streets to voice their anger. Tensions in Reykjavik peaked on Thursday night when police used tear gas to control rioters for the first time since 1949...Polls suggest a new election would likely spell a swing to the left with the Left-green party profiting from the tide of anti-capitalist sentiment.
Icelanders haven't been the only ones in Europe taking to the streets to voice their disgust at worsening economic conditions. People in Bulgaria, Latvia, Lithuania, Hungary and Greece have likewise been voicing their frustration.
...Last week, Lithuanian police fired tear gas at demonstrators who threw stones at the parliament in protest at government social spending cuts. Meanwhile in Bulgaria, hundreds protesters smashed windows, fought police and damaged cars when an anti corruption protest escalated into a riot."
http://tinyurl.com/advmjp
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