Iceland refused to use tax payer cash to honour debts run up by - TopicsExpress

Iceland refused to use tax payer cash to honour debts run up by the private sector, jailed the bankers responsible, kicked out the Prime Minister and put him on trial for his part in the crisis, and invited its citizens to write a new constitution. Iceland’s economy has enjoyed seven straight quarters of growth averaging 2.5% a year Iceland now has an unemployment rate below 5% (UK is at 7.9%), Pensioners receive back around 96.5% of their average net income as pension. Wages have continued to climb since 2011 and are now at an all time high. Icelandic society is peaceful and free of social strife. There is an alternative to Austerity, and it has proved far more successful. There is no case in history where Austerity caused growth in a time of economic crisis. Don’t Buy Into the Lies