From Iceland — "Iceland Is Fucked," Says Economist

“Iceland Is Fucked,” Says Economist

Published January 14, 2009

Iceland is pretty much royally fucked, and will be for a while, says UK
mag The Ecomonist’s Intelligence Unit in a report posted on the lauded
publication’s web-site last week.
“At a time when the global economy is entering its deepest recession in
decades, the immediate impact on the tiny island nation will be
especially brutal, with a double-digit contraction in economy activity
expected in 2009. And with the burden of debt and the rate of
unemployment both set to rise sharply, the medium-term outlook offers
little respite.”
And that’s just from the article’s introduction paragraph!
Read The Economist’s full assessment of the sorry state of Iceland here.

Support The Reykjavík Grapevine!
Buy subscriptions, t-shirts and more from our shop right here!


Show Me More!