Hi jonhallur,
I think we need to understand that we can only make assumptions from the information we receive. We knew that Icelands' major bank went bell up and that the UK banks wanted their money back. That was the beginning as I understand it.
We also know that the Icelandic currency has been smashed by around 15% of its' value making imported products very expensive for the local people.
However, on the plus side, Iceland is now a very good place to go for international tourism as the visitors will get a favourable exchange rate and localproducts will be alot cheaper for these tourists.
I think Iceland is very interesting as it was one of (if not the) first nation to go into a serious crisis. Could it be the first to come out of one?
It could well be, as with being only a small country and the values that we are talking about are not all that great in relation to the global crisis in general, that with a strategy which works could set precedent for the rest of the world to follow suit. Could Ireland follow the Iceland recovery model?
Also it's good to communicate with an Icelandic person living in Iceland to give first hand information, which is ever so important these days. We all know what the media is like!
Best regards,
Steve
Quote:
Originally Posted by jonhallur
Hi
A lot of whistle blowers are now mentioning Iceland as the first nation to go bankrupt in the current economic crisis. This does not add to these whistle blowers credibility.
I am Icelandic, and I live in Iceland. Iceland has not gone bankrupt (and I say "yet" in the title because it might go bankrupt someday but as of right now it isn't.)
If whistle blowers can be so fundamentally wrong about something, it makes me wonder what other things they might be wrong about.
Regards,
Jón Hallur
of Iceland.
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