Not long ago, the NL government was full of talk of the Icelandic model as the one to go by. This was after the period when government was smitten by the Celtic Tiger model.
Like us, these places they were small and plucky. If only we were more independent then the match would be complete and we could be just as successful as they.
Last August, I wrote here that the Iceland as a model was deeply flawed and that it was just a matter of time and the right circumstances before Iceland tipped over into the economic abyss.
Turns out I was right; they are the country worst exposed to the credit crunch with banking debts several times bigger than its economy, their central bank have ditched a currency peg after failing to convince investors it could maintain it, IMF officials are flying in to offer help, Britain is threatening to sue and and now they are in loan talks with Russia!
The goal of the Icelandic government is to stave off complete national financial collapse. Like NL in the 30's, Iceland is staring national bankruptcy in the face.
Maybe the NL government was right to look at Iceland as kindred spirit after all - we can send them a delegation to consult on how to set up and operate a Commission of Government.
Like us, these places they were small and plucky. If only we were more independent then the match would be complete and we could be just as successful as they.
Last August, I wrote here that the Iceland as a model was deeply flawed and that it was just a matter of time and the right circumstances before Iceland tipped over into the economic abyss.
Turns out I was right; they are the country worst exposed to the credit crunch with banking debts several times bigger than its economy, their central bank have ditched a currency peg after failing to convince investors it could maintain it, IMF officials are flying in to offer help, Britain is threatening to sue and and now they are in loan talks with Russia!
The goal of the Icelandic government is to stave off complete national financial collapse. Like NL in the 30's, Iceland is staring national bankruptcy in the face.
Maybe the NL government was right to look at Iceland as kindred spirit after all - we can send them a delegation to consult on how to set up and operate a Commission of Government.
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