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another_liberal

(8,821 posts)

6. Fortunately for Iceland . . .

Thu Jan 24, 2013, 08:08 AM

Jan 2013

Last edited Thu Jan 24, 2013, 03:39 PM - Edit history (2)

Fortunately for Iceland they never accepted the Euro in place of their own currency. Once they had, they would not have been able to devalue their currency, the European Central Bank would not have allowed it. It was that devaluation which made their exports cheaper for other countries to buy and led to their selling more abroad and (along with higher taxes on wealth, as you noted) growing their way out of this mess. Spain and Greece can not use that monetary fix.

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Spain's unemployment jumps to 26.02 pct [View all] Bosonic Jan 2013 OP

Jebus! Now the rest of their economy is going to fall apart Warpy Jan 2013 #1

Fortunately for Iceland . . . another_liberal Jan 2013 #6

I love Spain and the Spanish people......want this situation to have a happy ending... Pachamama Jan 2013 #8

Iceland crisis was different Purplehazed Jan 2013 #9

That's right dipsydoodle Jan 2013 #10

So much for austerity Lunabelle Jan 2013 #2

It just goes to prove my point Tab Jan 2013 #3

A memory that puts this in perspective for me is when I watched my grandmother wash and 2on2u Jan 2013 #4

The bankers must be paid! another_liberal Jan 2013 #5

What a profound statement. dipsydoodle Jan 2013 #7

I have a suspicion . . . another_liberal Jan 2013 #12

After Real Madrid's season ends, that number will be over 30 Blue_Tires Jan 2013 #11

Actual unemployment rate in the US area51 Jan 2013 #13