Iceland Shows Other Europeans How to Survive Bankruptcy

Hermes Trismegistus ‏@conarelli

Iceland Shows Other Europeans How to Survive Bankruptcy

http://reason.com/archives/2012/09/07/iceland-provides-a-blueprint-for-survivi

Retweeted by Black Swan •

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Taxpayers in Europe (and the United States) who have been terrorized since 2008 by government officials warning about economic armageddon, catastrophe, and pestilence should look to tiny Iceland for a taste of how little there is to fear when the experts can't save the people.

Christine Lagarde, managing director of the International Monetary Fund, recently branded Iceland’s economic performance "impressive." In the last few years the small island in the north Atlantic has managed to shrink its deficit, reduce unemployment, and allow its economy to grow.

Meanwhile, on mainland Europe, there is hardly any economic growth to be seen, and countries that pledged to make necessary austerity reforms have almost certainly failed to do so.

(More at the link.)