Home > Miscellaneous Musings, Predictions > Iceland out of trouble

Iceland out of trouble

As predicted years ago on this blog, Iceland is the only winner from the Euro crisis.  They followed a different path – the national taxing authority did not assume the private debts of stupid banks despite the enormous presssure on them to do so – and they are now through the tunnel and out the other side, whilst Greece and Italy and Ireland and Spain are still in the deepest darkest part of the debt tunnel with absolutely no prospect of escape.

You must repudiate unrepayable debt in order to grow.  How difficult is it to understand this basic fact?

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: