Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out | Minds
Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out | Minds
Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out
(ANTIMEDIA) After
Iceland suffered a heavy hit in the 2008-2009 financial crisis, which
famously resulted in convictions and jail terms for a number of top
banking executives, the IMF now says the country has managed to achieve economic recovery—“without compromising its welfare model,”
which includes universal healthcare and education. In fact, Iceland is
on track to become the first European country that suffered in the
financial meltdown to “surpass its pre-crisis peak of economic output”—essentially proving to the U.S. that bailing out “too big to fail” banks wasn’t the way to go.
