How Iceland Shook Off Overwhelming Debt
My wife has to listen to me simply because we occupy the same house, so she's heard me say Iceland is the blueprint for countries to regain prosperity after they've found themselves overwhelmed by excessive debt. Last night, she asked me to give her a really short, understandable version of why -- and here it is.
Iceland's entire banking system failed in 2008 due to worldwide real estate and financial meltdowns. The country owed foreigners about 8x its entire gross domestic product, and it needed to figure out how to recover from what was essentially a national bankruptcy....364 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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