{"version":"1.0","provider_name":"Drishtikone","provider_url":"https:\/\/www.patheos.com\/blogs\/drishtikone","author_name":"Desh Kapoor","author_url":"https:\/\/www.patheos.com\/blogs\/drishtikone\/author\/drishtikone\/","title":"Iceland faces National Bankruptcy and the new WMDs of our age..","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"SSb904q6jS\"><a href=\"https:\/\/www.patheos.com\/blogs\/drishtikone\/2008\/10\/iceland-faces-national-bankruptcy-and-new-wmds\/\">Iceland faces National Bankruptcy and the new WMDs of our age..<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.patheos.com\/blogs\/drishtikone\/2008\/10\/iceland-faces-national-bankruptcy-and-new-wmds\/embed\/#?secret=SSb904q6jS\" width=\"600\" height=\"338\" title=\"&#8220;Iceland faces National Bankruptcy and the new WMDs of our age..&#8221; &#8212; Drishtikone\" data-secret=\"SSb904q6jS\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","description":"We have heard about the banks going bankrupt these days but one of the top countries to live in is at the brink of disaster. Iceland is looking at the ultimate disaster as it is on the verge of NATIONAL BANKRUPTCY. Yesterday, I heard its Minister of Finance speaking to NPR and according to him the primary reason was that when times were good their banks had borrowed and lent it around to people for profit. Now when the liquidity crunch came in, they can't raise money to pay it back as the payback time comes. The biggest wonder is that their bank \"assets\" are 12 (or more) TIMES their entire GDP!! The loans are so high that their own Central Bank CANNOT cover their banks! Now, THAT is serious. To save itself from imminent collapse, it has asked Russia for a \u20ac4 billion loan as it scrambles to stop the collapse of its economy. It is also nationalizing most banks. What doesn't augur well for Iceland is that its total Forex reserves is less than $3 billion and its own Government can do only so much. In all this what I found interesting was that a country deep in Europe went all the way to Russia to ask for money."}