Hang on guys – what does one know about Iceland apart from the obvious facts: That it is a land of farmers and fishermen. That they borrowed too much because of greed. That they have huge household debts amounting to 213% of the disposable income. That the country’s banking system collapsed under pressure from the credit crunch after borrowing a massive amount of $180 billion in 2007. That the Icelandic economy is worth only $18.6 billion. That that isn’t going to work out! So now nobody knows what’s going to happen with those saving accounts from the UK savers who banked with Landsbanki and Kaupthing!!! Stick to your bloody fishing-boats you Icelandic Cxxts!
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