This was a momentous week, that will long be remembered in history. Not for what happened to your house price or your pension - the 3 biggest things that happened in the last week were these, though nobody has noticed yet:
1. Iceland became a Russian outpost in waiting. It won't be long.
2. The UK government used anti-terror legislation to back a purely commercial transaction (freezing Icelandic assets); and nobody seems to think there is anything strange about this.
3. The EU became the League of Nations. That too was a fine and optimistic institution, until it faced a real challenge, and then it was revealed to be an empty coat, and then it had no more significance.
1. Iceland became a Russian outpost in waiting. It won't be long.
2. The UK government used anti-terror legislation to back a purely commercial transaction (freezing Icelandic assets); and nobody seems to think there is anything strange about this.
3. The EU became the League of Nations. That too was a fine and optimistic institution, until it faced a real challenge, and then it was revealed to be an empty coat, and then it had no more significance.
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