Student of X
Paradigm Shifter
Icelandic Anger Brings Debt Forgiveness in Best Recovery Story
Feb. 20 (Bloomberg) -- Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the countrys economic and financial collapse are reaping the benefits of their anger.
Since the end of 2008, the islands banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association.
You could safely say that Iceland holds the world record in household debt relief, said Lars Christensen, chief emerging markets economist at Danske Bank A/S in Copenhagen.
[...]
Cool. I guess you can fight the powa~
Feb. 20 (Bloomberg) -- Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the countrys economic and financial collapse are reaping the benefits of their anger.
Since the end of 2008, the islands banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association.
You could safely say that Iceland holds the world record in household debt relief, said Lars Christensen, chief emerging markets economist at Danske Bank A/S in Copenhagen.
[...]
Cool. I guess you can fight the powa~