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ICELAND BOOMS AS THE WORLD STRUGGLES

• http://itmakessenseblog.com, The Meister
It has repaid, early, many of the international loans that kept it afloat. Unemployment is hov­ering around 6 percent, and fall­ing. And while much of Europe is struggling to pull itself out of the recessionary swamp, Ice­land’s economy is expected to grow by 2.8 percent this year.
 
 Everything has turned around,” said Adalheidur Hedin-sdottir, who owns and runs the coffee chain Kaffitar, the Star­bucks of Iceland, and has plans to open a new cafe and start a ■ bakery business. “When we told the bank we wanted to make a new company, they said, ‘Do you want to borrow money?’” she went on. ‘We haven’t been hear­ing that for a while.”

Analysts attribute the surpris­ing turn of events to a combination of fortuitous decisions and good luck, and caution that the lessons of Iceland’s turnaround are not readily applicable to the larger and more complex econo­mies of Europe.

But during the crisis, the country did many things dif­ferent from its European coun­terparts. It let its three larg­est banks fail, instead of bail­ing them out. It ensured that domestic depositors got their money back and gave debt relief to struggling homeowners and to businesses facing bankruptcy.

4 Comments in Response to

Comment by Joseph Vanderville
Entered on:

As it has always been before, audit the Fed bill will never be passed into law. The ignorant did not prevail before, and will not prevail now.

Comment by Joseph Vanderville
Entered on:

Would they enjoy "the fruit of their labor" had there been NO central bankers they could wave their middle-finger at saying "fuck you"? You much give central bankers credit where credit is due, and give yourself a zero credit for being so naive.

Comment by Anon Patriot
Entered on:

Iceland is booming, economically, because the people of Iceland WAVED THE MIDDLE FINGER AT THE CENTRAL BANKERS!  F#@& YOU!, they said.  And, now, 4 years later, they are enjoying the fruits of their labor.

It’s July 12th, 2012 – Do YOU KNOW what time it is?
(It’s time to pass H.R. 459, and AUDIT THE ‘FED’!)
http://chooseliberty.org/auditrphf3.aspx?pid=0703
http://www.chooseliberty.org/mailin/audit_donate1_mail.htm?i=CL090077-0703

Please donate generously, if you wish to save your country from the money-changers!

Comment by Stupid Amerkin
Entered on:

Analysts attribute the surpris­ing turn of events to a combination of fortuitous decisions ( Waking up to some reality of truth)  and good luck, ( more reality & truth) and caution that the lessons of Iceland’s turnaround are not readily applicable to the larger and more complex econo­mies of Europe. (Lots more criminals and corruption to deal with)

 

The bottom line is that the people of Iceland validated the fact that the people have the power as it should be and that is why there has not been one sound made of this paramount historical event on any lame stream media source. The criminals in this country will do what ever it takes to keep this story under wraps.


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