If Iceland can recover?
Iceland as a small non-EU, North Atlantic, island nation has recovered immensely from the global economic crisis and has dumped its centre left government to re-elect the party that presided over their economic demise.
The new government are expected to halt all plans for Iceland joining the EU and are planning to ask banks to write off debts.
http://www.washingtonpost.com/business/5-years-after-economic-meltdown-iceland-conservatives-poised-to-return-to-power/2013/04/27/b69512a4-afaa-11e2-b59e-adb43da03a8a_story.html
A few issues could be talked about here in relation to the UK:
1) Why can't the UK recover as quickly?
2) Are the current coalition government policies working?
3) Will Labour be the next government and if so to what extent will they triumph over the Cons and Lib Dems?
4) If Iceland, a small, independent non-EU nation can recover from the economic crisis, then what are Unionist politicians talking about when they refer to Scotland being economically better off in a country that until three days ago was feared might fall back into recession?http://www.bbc.co.uk/news/business-22290407
The new government are expected to halt all plans for Iceland joining the EU and are planning to ask banks to write off debts.
http://www.washingtonpost.com/business/5-years-after-economic-meltdown-iceland-conservatives-poised-to-return-to-power/2013/04/27/b69512a4-afaa-11e2-b59e-adb43da03a8a_story.html
A few issues could be talked about here in relation to the UK:
1) Why can't the UK recover as quickly?
2) Are the current coalition government policies working?
3) Will Labour be the next government and if so to what extent will they triumph over the Cons and Lib Dems?
4) If Iceland, a small, independent non-EU nation can recover from the economic crisis, then what are Unionist politicians talking about when they refer to Scotland being economically better off in a country that until three days ago was feared might fall back into recession?http://www.bbc.co.uk/news/business-22290407
Original post by Cmca1
Iceland as a small non-EU, North Atlantic, island nation has recovered immensely from the global economic crisis and has dumped its centre left government to re-elect the party that presided over their economic demise.
The new government are expected to halt all plans for Iceland joining the EU and are planning to ask banks to write off debts.
http://www.washingtonpost.com/business/5-years-after-economic-meltdown-iceland-conservatives-poised-to-return-to-power/2013/04/27/b69512a4-afaa-11e2-b59e-adb43da03a8a_story.html
A few issues could be talked about here in relation to the UK:
1) Why can't the UK recover as quickly?
2) Are the current coalition government policies working?
3) Will Labour be the next government and if so to what extent will they triumph over the Cons and Lib Dems?
4) If Iceland, a small, independent non-EU nation can recover from the economic crisis, then what are Unionist politicians talking about when they refer to Scotland being economically better off in a country that until three days ago was feared might fall back into recession?http://www.bbc.co.uk/news/business-22290407
The new government are expected to halt all plans for Iceland joining the EU and are planning to ask banks to write off debts.
http://www.washingtonpost.com/business/5-years-after-economic-meltdown-iceland-conservatives-poised-to-return-to-power/2013/04/27/b69512a4-afaa-11e2-b59e-adb43da03a8a_story.html
A few issues could be talked about here in relation to the UK:
1) Why can't the UK recover as quickly?
2) Are the current coalition government policies working?
3) Will Labour be the next government and if so to what extent will they triumph over the Cons and Lib Dems?
4) If Iceland, a small, independent non-EU nation can recover from the economic crisis, then what are Unionist politicians talking about when they refer to Scotland being economically better off in a country that until three days ago was feared might fall back into recession?http://www.bbc.co.uk/news/business-22290407
1) Iceland is a much smaller economy and defaulted on its payments, thus rather than making savage cuts it simply refused to pay people back. Because it is a small economy the damage was fairly small and investors let it wane as they only did it once (i believe). Argentina on the other hand is an example of a country that defaulted repeatedly and was a pariah for investment.
Such a default is not an option for the 7th largest economy in the world, in the worst case scenario where we default on all debt then we would plunge the world into a severe depression possibly worse than the 1920's, the economies of the USA, France, Germany, Ireland and Japan would be destroyed and they in turn would default on payments and then you see how bad it can get as the USA may not be able to pay China and so soon Asia see's significant economic damage.
http://www.bbc.co.uk/news/business-15748696
2) To a degree in that we do have some small growth rather than a true recession and also that the deficit has fallen. It could well be argued though that this is happening much more slowly than it could/should.
3) Probably, a result similar to 2005 is fairly likely with a moderate majority and a much easier time of it as Europe improves and the bulk of the cuts have passed.
4) It's better off in terms of being protected from the outside world by a currency which is fairly well regarded. Additionally the original plan for the SNP was to join the Eurozone which is something they are currently shying away from (although being in the Euro-Federalist MEP grouping you can be sure Scotland if independent would join the Federal Europe should it occur).
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