Iceland Took A Different Path to Recovery

This article contrasts the path taken by Iceland to recover from its financial system collapse with the path taken by everyone else. Iceland let it banks fail and it strengthened its social safety net rather than dismantling it. It's economy has not fully recovered but it is doing much better than most would have expected after the failure of banking system. There might be a lesson here for those states that have rescued the failed banks with taxpayer money, and are weakening their social safety nets. They believe in restoring prosperity to the thankless bankers and in punishing those who were harmed by the failures of bank management.