Did Iceland get it right?

[Cliphead]

Not the chav freezer shop but the country.

Linky

[MarillionFan]

Since they elected Kerry Katona Prime Minister of Iceland and she made them go bankrupt they've come out much stronger

[Malcolm Buggeridge]

Exposing The Truth

Looks suspiciously like à link from DavidIcke.com

[Doggy Styles]

Not the chav freezer shop but the country.

Linky

That article is a conspiracy rant which lost me.

Iceland had the advantage of not being in the common currency.

And, being a comparatively tiny economy, they could turn it around a lot quicker than, say, the UK could. Plus get away with their comparatively small defaults.

[BlasterBates]

The article is too simplistic. Iceland had bad banks, a bit like Ireland, the big problem in Europe is not bad bank debt, all though that is a problem, the problem is longterm structural deficits. In fact Ireland which is comparable is also doing well, in spite of the fact that it didn´t default. In fact Greece has already defaulted a large amount of debt but still needs to get it it´s deficit down.

[BrilloPad]

The article is too simplistic. Iceland had bad banks, a bit like Ireland, the big problem in Europe is not bad bank debt, all though that is a problem, the problem is longterm structural deficits. In fact Ireland which is comparable is also doing well, in spite of the fact that it didn´t default. In fact Greece has already defaulted a large amount of debt but still needs to get it it´s deficit down.

+1

BUt IMO(I know you will disagree) being in the Euro makes it all so much worse for them.

Yesterday at Victoria station I saw someone collecting for Greek animals. I got very angry at those running the Euro who insist on causing misery to the bottom 80%(and untold misery to the bottom 40%) by the few who are keeping the Euro going for political purposes only.

Then I realized that there must be at least 50% voting for those causing the misery - maybe people get what they deserve?