Monday, 28 January 2013

President of Iceland on the Country's Turnaround: Let the Banks go Bankrupt

This is Olafur Ragnar Grimsson, President of Iceland, interviewed in Davos this week and explaining why Iceland was able to turn its dire economic situation around so quickly (compared to some other countries in Europe, add the U.S. to that list). Listen especially to what he has to say about letting banks go bankrupt and previous employees at banks helping to revive other sectors of the economy. What a relief to hear a government official speak this way. Time for other European countries to do the same instead of letting the tax payers carry the burden for bailing out unsuccessful banks.

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