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I'm sure there is an interesting story here,but this article does not convey it. I would be very interested to read about the Iceland situation with the veiled
by tryitnow 15y ago
I'm sure there is an interesting story here,but this article does not convey it. I would be very interested to read about the Iceland situation with the veiled ideological barbs at bankers, international finance, neo-liberalism, etc.
There's an implicit comparison to Greece here, but Greece's public sector is burdened by nepotism and sinecures. I doubt Iceland faced the same hurdle.
An unbiased assessment would be interesting. This is not.
- kls 15y agoThe tl;dr or Iceland is that they where told a bunch of bad stuff would happen if they did not spread the private debt out to the public, the public went OWS and refused, a new government was formed and all the bad things ended up being nothing but boogy men. Whether that applies to other countries is up for debate, but many people see Iceland as the model for rapidly getting out of this mess. IIRC they have already started to see growth.
- deleted 15y ago[deleted]
- anarchotroll 15y agoI second what you said. The article is too biased to be taken into account. That being said, I really would like to understand with more details what exactly happened to iceland. I remember I researched the subject in 2008 and reached the conclusion Iceland was using a carry trade bubble to finance itself. I am not sure how exactly that played out and at what point in their history their economy started growing artificially due to the expansion of debt.