Nordic & Swiss Economics

Nordic & Swiss Economics Focus

27 March, 2012

Lessons from the Icelandic crisis

Three years after entering a depression, Iceland has staged an impressive turnaround, which, on the face of it, bodes well for the peripheral euro-zone economies that have suffered from similar problems. But a key factor behind the revival has been the fall in the exchange rate, implying that the troubled euro-zone economies may need to leave the euro-zone to replicate Iceland’s success. 

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