Iceland makes fledgling recovery from its economic meltdown

[Deinonychus]

Hmm, I wonder how the US would be fairing right now had we done what the Icelanders have done.

http://www.washingtonpost.com/business/economy/iceland-makes-fledgling-recovery-from-its-economic-meltdown/2012/01/12/gIQAW1q83P_story.html


By the time the United States and Europe began to wrestle with the fallout of the global financial crisis in 2008, this tiny island nation was experiencing full-fledged meltdown (http://www.washingtonpost.com/wp-dyn/content/article/2008/10/09/AR2008100900359.html). Its bloated banks failed. Its currency collapsed. The prime minister invoked God’s help (http://www.telegraph.co.uk/news/worldnews/europe/iceland/3147806/Financial-crisis-Full-statement-by-Icelands-prime-minister-Geir-Haarde.html), and protesters filled the streets (http://www.youtube.com/watch?v=XyS-bOuCjec&list=PL6E526880A8215E97&index=1&feature=plpp_video).


Iceland did what the United States chose not to do — allow its biggest banks to fail and force foreign creditors to take a hike. It did what troubled European nations saddled with massive debts and tethered by the euro cannot do — allow its currency to remain weak, causing inflation but making its exports more desirable and its prices more attractive to tourists.


Three years later, the unemployment rate has fallen. Tourism has increased. The economy is growing. The government successfully raised money from investors in the summer for the first time since the crisis.

[DanniIce]

I am from Iceland and i can say it was the correct and the only decision possible because the banks were too big to be saved for such a small nation.

The current left wing socialist government has stalled our growth greatly with outrageous tax increases and the use of class warfare.
It's a wonder how the government has stayed together, several senators have left the coaltion between the social democrats and the left greens but they are holding on to the last man so the conservative party does not claim power once again. This government was always doomed from the start because their positions are so different - one is the only pro-eu party and the other was the hardest eu opponent and they have lost 3 senators because of this.

We have a small but active libertarian movement going on and most of it is within the conservative party so hopefully in the next election we can start moving towards liberty again!

[Pericles]

I am from Iceland and i can say it was the correct and the only decision possible because the banks were too big to be saved for such a small nation.

The current left wing socialist government has stalled our growth greatly with outrageous tax increases and the use of class warfare.
It's a wonder how the government has stayed together, several senators have left the coaltion between the social democrats and the left greens but they are holding on to the last man so the conservative party does not claim power once again. This government was always doomed from the start because their positions are so different - one is the only pro-eu party and the other was the hardest eu opponent and they have lost 3 senators because of this.

We have a small but active libertarian movement going on and most of it is within the conservative party so hopefully in the next election we can start moving towards liberty again!

Best wishes to you and for success in moving toward more liberty.

Iceland has always been on my list of places I need to visit.

[specsaregood]

//

[ConCap]

I am from Iceland and i can say it was the correct and the only decision possible because the banks were too big to be saved for such a small nation.

The current left wing socialist government has stalled our growth greatly with outrageous tax increases and the use of class warfare.
It's a wonder how the government has stayed together, several senators have left the coaltion between the social democrats and the left greens but they are holding on to the last man so the conservative party does not claim power once again. This government was always doomed from the start because their positions are so different - one is the only pro-eu party and the other was the hardest eu opponent and they have lost 3 senators because of this.

We have a small but active libertarian movement going on and most of it is within the conservative party so hopefully in the next election we can start moving towards liberty again!


Not with the Conservatives. Stand alone.
http://aynrandlexicon.com/lexicon/conservatives.html