Þór Sigfússon (Þór = Thor) is my new Icelandic hero. For the simple reason that Þór dares to state the obvious. He wants “foreigners” to own banks rather than states. Doesn’t sound that extreme, does it? Well, in Iceland it’s a sensible topic. Iceland enforced a law that made it illegal for foreigners to own banks at the same time when they “privatized” them in 1991ish. I mark privatized with brackets since it was no real privatization due to the fact that the management just went into the hands of retired politicians and friends of the politicians.
Þór and the Confederation of Icelandic Enterprise (which he’s the leader of) wants to change this. In an article in the Icelandic news today he states that it is much worse if the government has the power over the banks (like it is now) rather than “foreigners”.
So please, all you Icelanders out there, there is nothing to be afraid of. Others than Icelanders have the know-how to manage the banking business as well. I mean, how much worse can it get if you compare it with your current situation? I promise you, politicians – with their “when is the next Election?”- perspective on economics – are a far greater threat for you and your precious island. So listen to Þór, he might be on to something here… *hint*