If all of this sounds also for you almost too good to be true …
… then you should read this article:
It turns out, most of these claims are dead wrong.
Despite being so widely reported by the mainstream financial media, Iceland is not a story of model economic recovery. It’s a story of how to fool people. And for now, it’s working.
- Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight (Bloomberg, Jan 27, 2014):
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.