WSJ’s Andy Jordan examines how Iceland’s economic miracle came to an abrupt end and explains why the world should care about the collapse of the small country’s financial system.
12/26/2008
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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December 29th, 2008 at 8:08 pm
At about 5:50 is where the most prescient statements are made: “canary in a coal mine” and “first domino”.
December 29th, 2008 at 9:18 pm
All due respect, where in this report is there an actual explanation of “How Iceland Collapsed”?
No mention of the cod fishing industry. Nothing, really.
Nice music, though.
December 29th, 2008 at 10:40 pm
“first domino”
Yes, that is what I keep wondering about: it seems the other dominoes are all pretty quiet, so are they really in trouble or not?
December 30th, 2008 at 7:35 am
KJ,
it’s been somnolent in Greece, Ukraine…
http://news.yahoo.com/s/ap/20081222/ap_on_bi_ge/eu_ukraine_financial_crisis