Iceland ponders adopting the Canadian Loonie

  • Posted by a hidden member.
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    Mar 04, 2012 11:56 PM GMT
    Well I'll be

    http://www.cbc.ca/news/politics/story/2012/03/02/iceland-loonie.html?cmp=rss
  • creature

    Posts: 5197

    Mar 05, 2012 12:09 AM GMT
    I thought someone was making a crack at riddler. He still wouldn't post news on Iceland.
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    Mar 05, 2012 12:28 AM GMT
    creature saidI thought someone was making a crack at riddler. He still wouldn't post news on Iceland.


    Why wouldn't I? Europe is a good example to other states of what happens when collective dreams are implemented and how they become nightmares. I've posted on them in the past.

    The whole reason they don't want to adopt the Euro is because of the anticipated instability which is a direct result of overspending by nation states.
  • creature

    Posts: 5197

    Mar 05, 2012 12:59 AM GMT
    riddler78 said
    creature saidI thought someone was making a crack at riddler. He still wouldn't post news on Iceland.


    Why wouldn't I? Europe is a good example to other states of what happens when collective dreams are implemented and how they become nightmares. I've posted on them in the past.

    The whole reason they don't want to adopt the Euro is because of the anticipated instability which is a direct result of overspending by nation states.


    Relative to the size of its economy, Iceland’s banking collapse is the largest suffered by any country in economic history

    http://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_crisis

    (I can't hyperlink it for some reason)

    Seems like they already encountered some instability, and proportionally larger than any country.
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    Mar 05, 2012 1:03 AM GMT
    creature said
    riddler78 said
    creature saidI thought someone was making a crack at riddler. He still wouldn't post news on Iceland.


    Why wouldn't I? Europe is a good example to other states of what happens when collective dreams are implemented and how they become nightmares. I've posted on them in the past.

    The whole reason they don't want to adopt the Euro is because of the anticipated instability which is a direct result of overspending by nation states.


    Relative to the size of its economy, Iceland’s banking collapse is the largest suffered by any country in economic history

    http://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_crisis

    (I can't hyperlink it for some reason)

    Seems like they already encountered some instability, and proportionally larger than any country.


    Yes, but they - unlike the US and other parts of Europe - did the responsible thing and nationalized the banks and engaged in Keynesian policies to boost their economy before dealing with their debt.