Britannia Radio

Friday, January 23, 2009

 

Icelanders Hurl Yogurt, Demand Change

Foreign Confidential....

Another sign of changing--and frightening--times. 

REYKJAVIK, Iceland – Protesters hurled dairy products and rage at their elected leaders here during increasingly violent demonstrations this week over the handling of the country’s collapsing economy.

Parliament was suspended Wednesday and the prime minister’s limousine was attacked with snowballs and eggs.

Demonstrators are calling for immediate elections, but the prime minister appeared on television Wednesday night, saying his government has no intention of stepping down.

Both sides, it seems, are digging in for a fight.

The protesters are said to be envious of Americans for electing Barack Obama. Click hereto continue.

UPDATE: Prime Minister Geir Haarde announced on Friday he would step down and seek an early election in May. Haarde, 57, is a U.S.-trained economist who has led Iceland's government since 2006 and his eurosceptic Independence Party from 2005. Previously he served as foreign and finance minister and as an economist with Iceland's central bank.

# posted by Confidential Reporter @ 8:24 AM links to this post 

 

China's Economy Slowing Down as Exports Drop

So much for the foolish view that China is immune from the meltdown.

Kevin Hamlin and Li Yanping report from Beijjiing:

China’s economic slowdown, already the deepest in seven years, is set to worsen as the global recession pummels its exports, darkening the outlook for suppliers from Australia to Taiwan.

Gross domestic product will grow 6.3 percent this quarter from a year earlier, according to the median estimate of nine economists surveyed by Bloomberg News. The survey was conducted after yesterday’s report that the economy expanded 6.8 percent in the fourth quarter.

Continue here.