Iceland Volano

Iceland Volcano

On Mar 6, 2010, Iceland held a referendum on whether to pay guarantees made by their old government to U.K. and Dutch banks on a 3.8 billion Euro loan that went bad. 93% of the voters said, ”Heck, No!, we’re not bailing out any failed banks.” Now the Europeans are trying to see if maybe they can at least get the second shoe to drop. The recent volcanic eruption in Iceland that disrupted airlines cost them and collateral businesses billions in lost business has left many countries and businesses reeling. This time the Europeans are not waiting for a few Icelanders to vote. In keeping with the airlines’ policies, such as, if you use a Kleenex, you have to pay a fee, the European consensus is “It was Iceland’s volcano that caused all the problems so it’s their fault and this time they are going to pay.” The airlines will be sending representatives, all who seem to be named Vinnie, to Iceland from house to house and believe me, the Icelanders will pay if they know what’s good for them. All major credit cards will be accepted. If they have any pillows or blankets in their home, they will have to pay extra. Also any planes landing or taking off in Iceland will pay a volcano surcharge. When it’s all said and done the Icelanders will get back to the basics and not have fancy bank failures. If the volcano doesn’t melt all the ice, they can still export the product they’re best known for- ice.

©2010 Eric Stamets