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STOCKHOLM | Fri Jun 8, 2012 10:54am EDT
(Reuters) - Iceland's economy expanded in the first quarter at its fastest pace since its near-meltdown, powered by a surge in exports, tourism and domestic consumption.
Gross domestic product (GDP) grew 2.4 percent quarter-on-quarter in the first three months of the year to put annual economic growth at 4.5 percent in the period, the highest since the first quarter of 2008, data from the statistics office showed on Friday.
"It shows that the economy is growing rather rapidly, at least in an international comparison, at the moment," Islandsbanki Chief Economist Ingolfur Bender said.
July 7, 2012
REYKJAVIK, Iceland — For a country that four years ago plunged into a financial abyss so deep it all but shut down overnight, Iceland seems to be doing surprisingly well.
It has repaid, early, many of the international loans that kept it afloat. Unemployment is hovering around 6 percent, and falling. And while much of Europe is struggling to pull itself out of the recessionary swamp, Iceland’s economy is expected to grow by 2.8 percent this year.
Originally posted by dimburg
Originally posted by SpaceJockey1
Sorry OP and other posters buying this story, but I'm taking all these RAH RAH Iceland comments with a grain of salt!
More interested in someone that actually LIVES there (Spacedman13), to get a better perspective of how well things are there, and so far they're painting a much different picture.
Iceland totally went bust and now 3 years later the OP and just about everyone else here seem to think life over there is all roses... just because they managed to put a couple of bankers behind bars
Deny ignorance people
Originally posted by Spacedman13
It sure is funny how people only read the top post,,
Yes it´s wonderful here , WE wipe out everyone´s dept , im millioner everybody here is a millioner , we have chocolate fountains and banks have a get a 1000d friday giveaway to everyother customers.
Free money for everyone,, fantasy land fun , yay.
GLOBAL ELITES THROWN OUT OF ICELAND:
Iceland Dismantles Corrupt Government Then Arrests All Rothschild Bankers
Last week 9 people were arrested in London and Reykjavik for their possible responsibility for Iceland’s financial collapse in 2008, a deep crisis which developed into an unprecedented public reaction that is changing the country’s direction.
It has been a revolution without weapons in Iceland, the country that hosts the world’s oldest democracy (since 930), and whose citizens have managed to effect change by going on demonstrations and banging pots and pans. Why have the rest of the Western countries not even heard about it?
"On one hand, we have to investigate all suspicion of fraud and offences committed before 2009, on the other hand, we bring the lawsuits against the suspects to court ourselves," Hauksson explains. This is a 'totally new' method which allows the investigators to "follow the case" and the judicial system to "know the cases like the back of their hand". This is indispensable in order "to compete with the well-prepared defence attorneys".
For all the fearmongering we hear out of our politicians on the right about how heaven forbid we're going to turn into Greece, the one country you never hear them talk about any more is Iceland. The reason they don't is, as Cenk Uygur explained on his show this Tuesday, they took a different path than the United States after their financial crisis and nationalized the banks, threw some the people responsible for the crash in jail and bailed out the homeowners instead of worrying about only bailing out the banks. And now they're coming back and their economy is growing again.
Originally posted by Ex_CT2
reply to post by Blackmarketeer
Ah, here we go: One of several articles I've read on this.
How Iceland Stalks Its Bankers
Originally posted by MrWendal
I have said it time and time and time again in numerous threads. What Iceland has done is extraordinary and it is a blueprint for the rest of the world. It is/was a Revolution the likes of which we have not seen since 1776 and they never had to fire a single shot.
They told the bankers to shove it.
They forced their Government to step down for even suggesting the Country go along with the Banker plans.
They arrested those responsible.
They reformed a new Government for the people
They rewrote their Constitution
They did not enslave the next several generations into indentured servitude.
Iceland did all this and not a SINGLE WORD was mentioned in the MSM about it. This was not the top story on CNN or MSNBC Money. This story was buried on blogs as it happened and we continue to hear very little about it today.
What does that tell you?