Global Investing

from MacroScope:

Scams from Abuja to Reykjavik

March 4, 2010

It suffered the collapse of its currency, economy and banking system so being invoked in a version of the notorious Nigerian email scam is one of the smaller humiliations endured by Iceland.

Iceland: slipping again?

February 2, 2010

Just when you thought it was all over, Iceland looks like it’s in trouble again.  The cost of insuring Iceland’s debt against restructuring or default has risen this week to 720 basis points in the five-year credit default swap market, its highest since mid-2009.  That means it costs 720,000 euros a year for five years to insure 10 million euros of Icelandic debt against default.

Who gets the last laugh?

January 23, 2009

Public critisicm may be heating up against banking executives being rewarded with huge bonuses despite taking too much risk (especially ex Merill Lynch head John Thain who requested a bonus and spent $1,405 on a garbage pail during a $1.22 million renovation of his office).

And the next Iceland is…

January 23, 2009

If there’s one thing you don’t want to be, it’s the next Iceland.

Greenland – new and poor country?

November 26, 2008

Greenland, an arctic island with a population of 57,000, voted for self-governance from Denmark in a referendum on Tuesday. The “Yes” camp won an overwhelming 75 percent of the vote.

Iceland for sale — collect in person

October 10, 2008

Iceland for saleIceland is for sale — on ebay.

It has great scenery and wildlife but the financial situation is in need of repair and a buyer must collect in person.

Icelandic saga spreads chill from freezer cabinets to soccer clubs

October 7, 2008

icelandic-glacier.jpgIt’s already on a geological fault line — now the economy of Iceland risks being torn apart by the banking crisis.

The curse of English football continues

October 7, 2008

After the collapse of Northern Rock, AIG and XL group – which sponsored Newcastle United, Manchester United and West Ham respectively — the curse of English football is getting stronger.
Curse of football
Today Iceland’s Landsbanki went into receivership. Its chairman Björgólfur Gudmundsson owns West Ham football club.