Icelandic Luck

By Econ70 | 05/24/2011
A picture of the inside of a room with a bunch of stuff on it.

The gov’t of Iceland wasn’t smart. It just couldn’t afford to bail out its banks, so they failed and foreign creditors including the UK and the Netherlands got badly burned, to the tune of $6 billion. While Iceland has suffered, their economic performance has been fabulous compared to Greece, Ireland or Portugal. The lesson, bailing…

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