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The best lesson to draw is that Iceland is still there. Their national bank, their currency, and their financial sector failed in the most dramatic way possibl
by hapless 18y ago
The best lesson to draw is that Iceland is still there. Their national bank, their currency, and their financial sector failed in the most dramatic way possible.
Most people still have their jobs. There are no breadlines. The world didn't end. Everything is more or less OK in Iceland. It's not a pretty picture, but no one could expect it to be so.
- mynameishere 18y agoIceland was bailed out. That can't happen with the US.
- ojbyrne 18y agoWhy not?
- mynameishere 18y agoBecause it would be like bailing out 1000 Icelands.
- hapless 18y agoThe IMF bailout was just enough to continue the most basic operations. It's nowhere close to enough to get them out of their present predicament.