due to the way the government of iceland dealt with it. it's fair to say that. the measures that have been taken have been the effect but it's not fair to say that people haven't felt the effect but this measure which is being undertaken was announced last week and. how it's to restore the financial help for the financial health of the middle income families and is. and is funded by taxing the estates of the collapsed banks so it's a wealth transfer from the collect from the collapsed banks into into the middle income family and it over though it's not an excessive measure it's a measure that matters and will help people to continue the payments and. it is actually an also an equity in jackson into into into into the average household so the benefits of it should be quite clear and just explain to us how why seeing all of debt can end up in economic recovery because they know that inflation jumped to more than twenty five percent that. well it means that. this is a measure which is aimed at the what you call the balance sheet of the family

iceland is quite right to make an upfront challenge to the global financial system. unless you say that you're going to throw it out the window they will always succeed in creating money out of nothing let me tell you with administration costs and interest lending it for anything except the real economy then to get for the anything except the spreading of the real economy and putting you into debt and the debt becomes an repayable you must rely on your own national bank for your own uses for your own real economy and for the spreading and if you don't do that you'll be trapped into debt in the same way that what you got greece you've got iceland but you've got every country in the world is being tracked into increasing debt and all that happens is that they increase the levels of the debt and smash the populations down we need a revolt against this global financial system and in its own way iceland is setting a reasonable example but at a cost though isn't it it's not all as good as it sounds high inflation the currencies becoming weaker is it really as good as it so

for example but iceland doesn't have that strong though iceland is not of the level of state tax for performance that we do but if you look at the difficulty of the icelandic banking system has went true if you look at the fact that they are a currency that allowed them to revalue of state saw fit. their fundamental differences between a our country and there are some of them now that i don't claim that they are the same can i take it from your answer though that if your government wasn't placed back down that he would have made the same decision knowing that he would have transcended all that you can take when you get to a situation where a country is on able to fund its public services. and a country is unable to fund its banking system it doesn't have any good choices left. to attribute to us a some may do to our membership of the european union is something that i would fundamentally reject. while on the contrary it's going to have different relationships with the euro were the european union as you correctly say. the forces of allowed to get to where we are much of both parties

is a crime i think because iceland russia iran and china are all banking systems that are outside of the control of the federal reserve bank of america or the bank of england in the u.k. they are free to prosecute financial crimes we don't have that freedom in the u.k. because the bankers are protected by the bank of international settlements in switzerland the federal reserve in new york who cool loued on a global basis to line the pockets of the criminals in this case the bankers in the u.k. and america and of course the economies are suffering catastrophic only as a result of this poverty is on the rise and living standards in the u.k. are crashing worse than they ever crowd going back to victorian times. any chance other highflying financial skirmishes will now find themselves in the dark on some of the challenges that. well like i was alluding to there a moment ago the banking outside of russia iran china and iceland are all pretty much controlled by what's called are known as the rothschild influence the rothschilds of cars and their family really owns this central banks in ame

reveals one point two five billion dollars in mortgage cuts to aid recovery the icelandic government said on saturday it would right up to twenty four thousand euros off the mortgage of every household making good on an election campaign promise despite international warnings over the plan so we have a situation where they're going to rip that little creature out of the tongue of their banking system people internationally warning them against this are of course the o.e.c.d. the i.m.f. the likes that are speaking on behalf of the you know the lobbyist for that little creature inside the tongue or at the little parasites either change lobbyist but not so nice and so iceland is doing what people used to do right off bad debts because this is ultimately what the only way you can deal with a situation that grows exponentially larger than the underlying economy can support you have to write that off that was going on for hundreds of years thousands of years only until reason time says the debt then allowed to rule like some. megalithic good zoom just finally eating so iceland no way yeah

and the neverland's iceland's president rejected the proposed bills which its citizens felt were just. a quarter of the population by forgiving debt to ease the people's pain and punish the banking executives that were guilty of causing the financial crash in the first place now many are actually indicted for their economic crimes comparisons are often drawn between iceland and another country that we're talking about greece both have dealt with insolvency in cooee different ways greece save the banks with the assistance of the e.u. and the i.m.f. is spending cuts to deal with their ailing economy there's no recovery in sight nor will there be for quite some time recent protests too but assigned it to state with brussels assist with austerity pricing cannot be directly compared because of course of the size of the economies and indeed the population as well go i said with three hundred twenty thousand greece with eleven point three million people process although foreign debt in iceland was six times higher than g.d.p. during the crash greece however after four years of austerity meas

is setting a recent example thank you iceland. has shut down a major online black market on the web site read about the battle between rebels and drug dealers or cyber criminals still millions of dollars worth of big coins from a narcotics market place. plus eat what you know a poll shows an absolute majority of americans want products containing genetically modified ingredients to be labeled the government isn't listening more on r.t. dot com. for the bolshoi and two other defendants have been found guilty of a brutal acid attack on the russian companies theater director the court handed down prison sentences for all three parties made in a question over reports now from bolshoi theatre. a four hour sentence reading brought the curtain down on a month long trial and it has lasted basri theater leading salo who is behind bars reaching who has been given six years in prison and to dispel the defendant's will and ten years accordingly now the judge has also given relied to surrogate bilin so the lawsuit miter change to house to be t

reveals one point two five billion dollars in mortgage cuts to aid recovery the icelandic government said on saturday it would right up to twenty four thousand euros off the mortgage of every household making good on an election campaign promise despite international warnings over the plan so we have a situation where they're going to rip that little creature out of the tongue of their banking system people internationally warning them against this are of course the o.e.c.d. the i.m.f. the likes that are speaking on behalf of the you know the lobbyist for that little creature inside the tongue or at the little parasites of the change lobbyist but not so nice and so iceland is doing what people used to do right off bad debts because this is ultimately what the only way you can deal with a situation that grows exponentially larger than the underlying economy can support you have to write that off that was going on for hundreds of years spouses of years only until reasons i'm says the debt then allowed to rule like some. megalithic godzilla just finally eating oh so iceland no way yeah

similar to the one that iceland and i had a chance to interview the president of iceland just last month he was indeed speaking about this prevailing european orthodoxy almost intimidation by the european officials that you absolutely have to accept all that private debt and put it onto your people if they defied that that choice unfortunately you went along that proposal and i think it's going to take your country would you see agents to recover from that and you could to inferences and all dot dot are fundamentally. wrong the first inference that you've heart is in start up pressure that you're talking about it that orthodoxy with the european in origin what you're doing with your association of global economic orthodoxy at the time no no you only are in south east and don't know how it is if you slide it in here isn't going to do this it's only thing that had the european origin if you look at what was happening in america at the time and if you look at the aftermath of what happened with the lehman brothers you had central banks all over the world that made the decision to say they w

all four mumbai bosses in iceland and chad full financial for what they were keys to praising defunct guitar and bass to door search of the fun with money lent a candidate by define itself went to listen to thousands eight helping to cripple my son's economy and less costly to posses financial and is not present in all his sights on this site looks like a welcome to ocs adults all been ruled out ramifications of this case. well i think that had better stand that in this dec rhinos timidity in iceland with the participation of a guy winning kits are you have a classic ponzi scheme where the bank was lending money tickets on the tile was buying shares in banks like helping bank of iceland to artificially inflate the price of the stock of the bank and then eighties that artificially high the bank's stock price to make loans to make acquisitions and then when the bubble burst it all came down and of course there was a crime committed and the icelandic government is now prosecuting for the financial fraud. but what's interesting is that if you look at what's happening in the uk right now t

is setting a reasonable example thank you iceland. yes and in its latest move iceland says it is prepared to write off up to twenty four thousand euros from every household mortgage the international monetary fund isn't happy about that saying it leaves little space for additional debt relief measures but would other european citizens be happy for their tax money to be spent in that way r.t. has been gauging opinion in the u.k. and germany. great yeah. well just to get rid of your debt was perfect because then obviously you could spend that money somewhere else i think certainly would help us families just get over that hurdle that that sort of money that would make to be walking rebirth of a country woman to the government. is the public good thing with complete enough or it would be very great to you know everyone could buy the whole. think about this i think it's a good thing that we used to have laws in germany where you could get subsidies as a home owner you know but that's the thing about this is ok if you don't get individual

is setting a reasonable example thank you iceland the international monetary fund has criticised the icelandic government policies saying there is little space left for additional debt relief measures the fund also claims that by leaving be insolvent banks to fend for themselves the country has already let down its biggest creditor us marty crew went to two of the biggest lenders the u.k. and germany to gauge opinion. great yeah. well just to get rid of you perfect because then obviously you could spend that money on some real. we certainly would help us from these just go over the code so that sort of chunk of money that would make a difference will speak well i think would be best for the country woman reason the economy. is the public good. thing the country can afford it it will be very great to you everyone could. think of i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner but that's it think of it this is ok. i think for individual people it would be good news but not for the country you never know where the money comes from

and germany find out what people there think of iceland's recovery plan and here is what we heard. i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner you know but that's a thing of the past this is ok if you didn't get this i think for individual people it would be good news but not for the country you never know where the money comes from for such gifts but it will be very great to you everyone could buy a house. sounds great yeah. but just to get rid of your debt was perfect because then obviously you can spend that money on something else because i think it'll be better for the country one for the economy. because the public that just goes up and i don't think the country can afford it he said he would help us families just stay with that code so that that sort of chunk of money that would make a difference will be. well considered controversial isis crisis breakaway plan is proving effective in helping people keep their.

is setting a reasonable example thank you iceland. the international monetary fund has criticised the icelandic government's policies saying there is little space left for additional debt relief measures the fund also claims that by leaving the insolvent banks to fend for themselves the country has already let down its biggest creditors crew went to two of the biggest lenders the u.k. and germany to gauge opinion sounds great yeah it was just to get rid of you perfect because then obviously you can spend that money was a real. treat said we would hope the spam is just the code so that sort of turned the money that it would make to the street well i think would be better for the country when the economy. is the public good. thing because we can afford it it would be very great to everyone could. think about us i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner but that's a thing of if this is ok. i think for individual people it would be good news but not for the country you know for

is setting a reasonable example thank you iceland well in its latest move iceland says it's prepared now to right up to twenty four thousand euros from every households mortgage the international monetary fund is unhappy saying it leaves little space and for additional debt relief measures but what other european citizens be happy for their tax money to be spent the same way good question we went to gauge opinion than in u.k. and germany. great yeah. well just to get rid of your debt was perfect because then obviously you can spend that money on something else i think said he would help us families just get over that hurdle that that sort of chunk of money that could really make a difference to people but i think would be better for the country one for the economy. because the public that just goes up and i don't think the country can afford it it will be very great to you everyone could buy a house. which think about us i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner you know but that's a thing of a past this is ok he didn't ge

iceland. >> iceland. >> for veradia and their family, they seem heaven sent. >> hallelujah. >> the isar team remains in haiti for ten more days. they don't find any more survivors. >> as we left, it was like being torn apart. we wanted to do more, but we couldn't do more. >> one of the most difficult things was all the people that we didn't rescue. so i think about that a lot. >> the haitian government estimates the earthquake claimed more than 300,000 lives. for veradia, this rescue team from across the globe has made all the difference. she has her life. >> because it was, to me, incredible and impossible that all this would happen. these people are such heroes. >> i felt very connected to her. this is an experience that will follow me the rest of my life. >> it's a pleasure to see how far they came to be able to help my country. >> coming up, a tourist captures something extraordinary. >> then you hear this noise. like a click, click, click. >> when a centuries old sequoia crashes to the ground. when caught on camera: what on earth? won'ts continues. [ male announcer ] here's a quest

iceland's alive and kicking the country's economy has rebounded after the recession which struck hard five years ago with a stage treating its own path to financial well being instead of trying to save its bankrupt banks government let them go to the wall the leadership then decided to reject a last deposit repayment scheme swayed by protesters who said the plan was unfair instead every household in the country will now have twenty four thousand euros written off their mortgage banking executives accused of causing a crisis in the first place are also being pursued by the state professor bob binary economics rodney shakespeare believes that iceland is setting a remarkable example. you must rely on your own national bank for your own use is for your own well economy and for the spreading and if you don't do that you'll be trapped into debt in the same way that what you got greece you've got iceland but you've got every country in the world is being tracked into increasing debt and all that happens is that they increase the levels of the debt and smash the populations down we need to re

>> first of all, iceland is a pretty unique country. if you like the outdoors, iceland is the place to be. the weather in san francisco kind of beats the weather in iceland at this moment, especially in the winter, but all in all, the company is such a great and fun company to be in, we have got such a great team. there's one thing thing that i would say which is a good thing about working with us in iceland is that you get to be involved with this awesome product and these great people. >> thor fridriksson is the chief executive of plain-vanilla games, they are the makers of quizup. if you would like to get off your mobile phone and meet real people, my next guest has an online service for you. loneliness serves as a catalyst for the company that helps people meet. it is called grouper, and it has evolved. the founder and the chief executive, michael waxman joins me now. how did you start grouper? >> this is a really simple concept. we are a social club that sets up drinks between two groups of friends. it is opportunity to use technol

>> first of all, iceland is a pretty unique country. if you like the outdoors, iceland is the place to be. the weather in san francisco kind of beast the weather in iceland at this moment, specially in the winter, but all such a the company is great and fun company to be in, we have got such a great team. there's one thing thing that i would say which is a good thing about working with us in iceland is that you get to be involved with this awesome product and these great people. is theridriksson chief executive of plain-vanilla games, they are the makers of quizup. if you would like to get off your mobile phone and meet real people, my next guest has an online service for you. loneliness serves as a catalyst for the company that helps people meet. er, and it hasroup evolved. the founder and the chief joinsive, michael waxman me now. how did you start grouper? >> this is a really simple concept. we are a social club that sets groups ofbetween two friends. it is opportunity to use technology to get off-line in the real world. >> how does

is setting a reasonable that desirable thank you iceland. considered controversial by international lenders iceland's crisis breakaway plan is proving effective in helping people keep their hands above water but here's what happens when gov measures fail today nearly a quarter of the population live under the threat of poverty that's more than one hundred twenty million people and two of the latest additions to the blog bulgaria and romania find themselves topping the list of europe's poorest and even the founding states are now struggling more than ever as a group is going to find out. marco used to work as a pizza your many italians used to call it the golden skill which would always get you work in rome but it didn't hold true for marco one day he was sacked and has not been fired since he's been living on the street for about four years now and says at forty six he sees little chance of fixing his life he asked us not to reveal his identity. when you live on the street survival is what takes up most of your time simply getting a shower i

is setting a reasonable example thank you iceland now the international monetary fine has criticised the icelandic government's decision to let the banks go broke and international investors and compensated energy group traveled to two of the biggest lenders the u.k. and germany to find out what people there think. that is great yeah. but just to get rid of your debt was perfect because then obviously you could spend that money on something else that said he was helpless families just total that source a chunk of money that would make a difference which people well i think would be best for the country one reason the economy. is the public that just goes up and i don't think the country can afford it it would be very great to you everyone could. think about this i think it's a good thing we used to have laws in germany where you could this be something as a home owner you know what that's it think about it and this is ok if you didn't get this i think for individual people it would be good news but not for the country would know where the money comes from for such gifts and i say loo

is setting a reasonable example thank you iceland all the staging because it's worlds apart at next. ukraine is in a tough spot right now trying to figure out whether to join the e.u. or the arrangements custom union it would be nice if they would you know maybe allow the populace to vote for their future via referendum but sadly it looks like the politicians will be making the historic decision i can see why some people want to look west and some people want to look east but i don't understand why so-called ukrainian nationalists want so desperately to join the e.u. first off any nationalist groups in the e.u. are automatically demonised as right wing extremists and in the politically correct west patriotism is pretty much a dirty word generally nationalist like their culture and the people who are part of it but if we look at migration trends within the e.u. we see that the slavic part of it is flooding western europe looking for work i have many relatives from the slavic part of the e.u. and almost all of them have to work abroad and might sound nice to be able to work in europe b

is setting a reasonable example thank you iceland the international monetary fund has criticizing us slanted government's policies saying there is little space left for additional debt relief measures and by leaving the insolvent banks to found for themselves the country's already laid down its biggest creditors and r.t. crew went to two of the biggest the u.k. and germany to gauge opinion. sounds great yeah. but just to get rid of your debt was perfect because then obviously you can spend that money was the real. thing he said he would help us families just get that code so that so it's a chunk of money that would make a difference. well i think the best for the country will be for the economy. it's the public that just goes up and i don't think the country can afford it it will be very great to you know everyone could buy a house. and i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner you know but that's one thing about this is ok he didn't get this i think for individual people it would be good news but not for the country you n

is setting a reasonable example thank you iceland. but the international monetary fund is criticizing its icelandic government's policy saying there is little space left for additional debt relief measures and by leaving the insolvent banks to fend for themselves the country's already let down its biggest credit is an r.t. cre went to two of the biggest u.k. and germany to gauge your pain. i was great yeah i was just to get rid of you perfect because then obviously you could spend that money for meals. certainly would help those families just that hurdle that that sort of money that would make to be walking would be better for the country woman for the government. because the public good just goes up and i don't think the country can afford it it would be very great to you know everyone could buy a house. i think it's a good thing we used to have laws in germany where you could get subsidies as a home owner you know but that's a good thing about this is ok if you don't get i think for individual people it would be good news but not fo

state struggle under the burden of a story he will look at how iceland's decision to forgive people's debts has paid off our top stories. live from studio central moscow where it's just a nine pm this is r.t. international thousands of protesters in the ukrainian capital have surrounded the presidential administration the scene of rotting on sunday that left about two hundred people injured there demanding the president dishpans the country's cabinet that's after a no confidence vote was rejected by parliament on artie's. has more now on the far east session i believe she can join us now live tell us more about the reaction to that parliamentary session. well this in itself was a rather rowdy yes you know anything about the ukrainian rod or the parliament it's been known to come to blows. in a particularly heated discussions this time around you can say that the session has started off for the skirmish right away although they didn't. they didn't go to blows it with their fists also their main speaker the prime minister i sorry to cut to the stage well he has had hard quite a hard tim

hot new crisis recovery from iceland where the government has decided on a debt write off rather than open a line of international credit that's just after the break. i was thinking somehow i have to come back because mom was waiting for me. and i just knew that everything would be fine for some reason really were so confident because we were going to get married officially after he came back. how could he not come back because the mere thought of it never crossed her mind. the militants decided to try and break through to her new guinea epic screaming grenade. go the explosion blew him will run his back you will. lose it all and it was all over all. we know that our comrades on our commander won't leave us no matter how tough it gets we're team. your boy is getting it was a senior in his military trio. and because he knew that if he didn't smother that grenade with his body more of his comrades would die he gave his own life to save his friends. welcome back you're watching our to live from moscow i'm lindsey france thanks for joining me are something kami shows cautious signs of gro

some people saying that since two thousand and eight iceland has actually come rather a long way it has done for a mars. we rewind the clock it was pretty much a disaster the first domino to fall in the whole financial crash and it affected pretty much most of europe and externally is one and that's because people lots of countries had assets in the international banking system that was iceland as a result we had international debts six times higher than the country's g.d.p. which is pretty startling the stock market plunged ninety percent inflation surged eighteen percent we had unemployment rising nine fall that's just to give you an idea of what happened so the government has stepped up and this is what they did so they decided to go against what the rest of europe was doing so they paid off consumer loans first of all that's the person they decided to do they forgave mortgages as well so again they helped out the people that were struggling they burned bondholders instead of using taxpayers' money again the opposite of a lot of what the european union decide is they aren't intereste

reveals one point two five billion dollars in mortgage cuts to aid recovery the icelandic government said on saturday it would right up to twenty four thousand euros off the mortgage of every household making good on an election campaign promise despite international warnings over the plan so we have a situation where they're going to rip that little creature out of the tongue of their banking system people internationally warning them against this are of course the o.e.c.d. the i.m.f. the likes that are speaking on behalf of the you know the lobbyist for that little creature inside the tongue or at the little parasites are the change lobbyist but not so nice and so iceland is doing what people used to do right off bad debts because this is ultimately what the only way you can deal with a situation that grows exponentially larger than the underlying economy can support you have to write that off that was going on for hundreds of years thousands of years only until reasons on the debt then allowed to rule like some. megalithic godzilla just finally eating oh so iceland no way yeah and

the icelandic government they're going to inject one and a quarter billion u.s. dollars to help people that are really struggling with higher costs of living so what they're going to do is they're going to get this money it's going to be in more good pay downs another half in tax exemptions it's going to help one hundred thousand people which probably doesn't sound a great deal but that's actually a third of the population of iceland some people say that since two thousand and eight iceland has actually come rather a long way it has done very much so we rewind the clock it was pretty much a disaster the first domino to fall in the whole financial crash and we had international debts six times higher than the country's g.d.p. which is pretty startling stock market plunged ninety percent inflation surged eighteen percent we had unemployment rising nine fall that's just to give you an idea of what happened so the government they stepped up and this is what they did so they decided to go against what the rest of europe was doing so they paid off consumer loans first

iceland is alive and kicking the country's economy has rebounded after the recession which struck our five years ago with state reading its own path to financial well being. instead of trying to save its bankrupt banks the government will let them go to the law. the leadership then decided to reject a lost deposits repayments being swayed by protesters he said the plan is unfair. instead every household in the country will now have twenty four thousand heroes written off their mortgage banking executives accused of causing the crisis the first place are also being pursued at the state. master of binary economics mighty shakespeare believes that iceland is setting a remarkable example. you must rely on your own national bank. for your own new uses for your own with economy and for the spreading and if you don't do that you'll be trapped into debt in the same way that when the priest of god christ and that you've got a free country in the well is being checked into the increasing debt. and all that happens is that they increase the levels of debt and smashed the populations down. we nee

welcome back you're watching r t international i'm marina joshie iceland's alive and kicking the country's economy has rebounded after the recession which struck hard five years ago with the states treading its own path to financial well being instead of trying to save its bankrupt banks the government led them go to the wall and the leadership then decided to reject a last deposit repayment scheme swayed by protesters so sad the plan was unfair instead every household in the country will now have twenty four thousand euros written off their mortgage banking executives accused of causing the crisis in the first place are also being pursued by the state professor viner economics rodney shakespeare believes that iceland is setting a remarkable example you must rely on your own national bank for your own use is for your own really calling me at for the spreading and if you don't do that you'll be trapped into debt in the same way that what you got greece you've got iceland but you've got every country in the world is being tracked into increasing debt and all that happens is that they increas