Iceland Bankrupt | Global Crisis Entering the New Phase
Iceland Bankrupt. This is the hottest economic news. The Iceland goes Bankrupt. Yes, it is hard to believe but you had better believe it. Iceland is a country and this country is bankrupt.
The global financial crisis is entering a new and vastly more dangerous phase. Do you still not believe it? Well, I will explain a little to you. Iceland is bankrupt and the country cannot pay back its external debts.
The krona, the Icelandic currency, has become essentially valueless in the rest of the world. It means that Iceland can no longer pay for imports. Even though this bankruptcy related to the global crisis but it has nothing to do directly with American real estate.