"Iceland has Finally Emerged from Deep Recession"

[Smaland]

http://i.telegraph.co.uk/telegraph/multimedia/archive/01780/iceland_1780380c.jpg
"The Winter Festival in Reykjavik, Iceland" Image: Alamy


Iceland has finally emerged from deep recession after allowing its currency to plunge and washing its hands of private bank debt, prompting an intense the debate over whether Ireland might suffer less damage if adopted the same strategy.

Full story (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8187476/Iceland-offers-risky-temptation-for-Ireland-as-recession-ends.html)

[Breedingvariety]

Debasing currency is no strategy. It's what they do. Why don't all countries debase currencies if that's a good strategy? Oh wait... there's a currency war going on.:rolleyes:

The point is- there is no problem in debasing currency if you are not the sucker holding it.:lol00002: