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Iceland went basically bankrupt less than 20 years ago, saying they're doing "extremely well" is either misinformed or disingenuous. They do ok on some paramete
by toyg 2mo ago
Iceland went basically bankrupt less than 20 years ago, saying they're doing "extremely well" is either misinformed or disingenuous. They do ok on some parameters, bad on others, and their small size makes them fundamentally weak to global economic winds. EU (and particularly Euro) membership would not magically solve all problems, but could make some things a bit clearer and more reliable.
Sadly, the voters have spoken and so they'll have to continue doing what they do now.
- mytailorisrich 2mo agoEveryone went basically bankrupt 20 years ago and while they were hit they also recovered. The Euro can be a big impediment, too, as we have seen. Iceland ranks 5th globally in nominal GDP per capita, 1st in Europe for average wage, 1st globally for HDI. I think it is a fair assessment to say that they are doing extremely well.. > either misinformed or disingenuous That was uncalled for...
- iamnothere 2mo agoIceland is the only nation that punished its bankers for their misdeeds, and it’s bounced back from 2008 in very good shape. They still have a strong industrial base thanks to massive hydropower investments, and their people (who are fairly well educated) retain control over their government, which seems more democratically responsive than other European governments. Their strategic location (GIUK gap) also gives them a lot of negotiation leverage. I’d say they are doing pretty well.
- veeti 1mo agoHow do you think Iceland would have fared in 2008 under the ECB's iron whip or within euro? Legitimately curious.