Tag Archive: Iceland Let Banks Fail

Iceland Let Banks Fail, Jailed Criminal Bankers

Iceland Let Banks Fail, Jailed Criminal Bankers and Now Has Only 4% Unemployment     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. Prime MinisterSigmundur D. Gunnlaugsson says even that’s too high. “Politicians always have something to worry… View Article