Iceland’s Rock Bottom Approach to Debt Crisis: Let the Banks Fail

2008 was a year of financial disaster and near government collapse. The crisis has been deemed by economists as the worst financial crisis since the Great Depression of 1930s. But in the worldwide turmoil, the country that got hit the hardest is undoubtably Iceland. With so many countries sticking with the “Too big to fail” mentality, Iceland took a different approach. Take a look at this video to learn about Iceland’s handling of the crisis and how it’s economy has turned out.


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