In the midst of the Great Recession, Iceland saw that the banks had become too big to fail, and the bankers too important to jail – and put a stop to it. Rather than let them go further, Iceland let the banks fail and jailed the bankers. The world didn’t end. The island continues to have problems, but their recovery seems to be moving faster than America’s.They saw the need for change, and they changed. Congratulations, Iceland. Now, about that 39% tax that tries to keep investments on the island… Another necessary, and possibly temporary measure.
(Click on the graph for the link.)
“Three Charts That Show Iceland’s Economy Recovered” – The Independent
Pretending Not To Panic 