Photo - A funny thing happened on the way to economic Armageddon : Iceland's very desperation made conventional behavior impossible freeing the nation to break the rules where everyone else bailed out the bankers and made the public pay the price Iceland let the banks go bust and actually expanded its social safety net where everyone else was fixated on trying to placate international investors Iceland imposed temporary controls on the movement of capital to give itself room to maneuver.

A funny thing happened on the way to economic Armageddon : Iceland's very desperation made conventional behavior impossible freeing the nation to break the rules where everyone else bailed out the bankers and made the public pay the price Iceland let the banks go bust and actually expanded its social safety net where everyone else was fixated on trying to placate international investors Iceland imposed temporary controls on the movement of capital to give itself room to maneuver.



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