I've posted a link to a remarkable interview with the President of Iceland. He talks about how Iceland managed to overcome its economic problems in the past couple of years. The key, he says, lies with the fact that they were not afraid to let insolvent banks fail, and once the initial pain of bankruptcy and default was endured, the economy was ready to embark on a path toward genuine recovery. Iceland sets a great example for other Western countries who are dealing with insolvent banking systems. Hope you take the time to listen!
CBC.ca | The Sunday Edition | Iceland Recovery - Rothko Play - Is Europe Over?
Merry Christmas!
Sincerely,
Betsy
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