4 ms·
Not a single mention of Iceland, which decided not to bail out their banks (mostly because they couldn't afford it), and didn't fare so badly with it.
by lazyjones 7y ago
Not a single mention of Iceland, which decided not to bail out their banks (mostly because they couldn't afford it), and didn't fare so badly with it.
- rumanator 7y agoIIRC Iceland's banks provided services mostly to clients outside Iceland, thus the impact of their default affected foreigners who had a negligible role on Iceland's economy.
- ggm 7y agoExcuse me: the UK basically threatened Iceland unless British debt took priority for refund, bullied them and made Icelandic citizens wear the consequences. You cannot say Iceland did not bail out the banks, they nationalised significant parts of the bank debt to get rid of a problem.