Let Banks Fail Is Iceland Mantra as 2% Joblessness in - TopicsExpress

Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight. Iceland let its banks fail in 2008 because they proved too big to save. Now, the island is finding crisis-management decisions made half a decade ago have put it on a trajectory that’s turned 2 percent unemployment into a realistic goal. While the euro area grapples with record joblessness, led by more than 25 percent in Greece and Spain, only about 4 percent of Iceland’s labor force is without work. bloomberg/news/2014-01-27/let-banks-fail-becomes-iceland-mantra-as-2-joblessness-in-sight.html

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