Iceland’s President Olafur R. Grimsson said his country is better off than Ireland thanks to the government’s decision to allow the banks to fail two years ago and because the krona could be devalued. "The difference is that in Iceland we allowed the banks to fail," Grimsson said in an interview with Bloomberg Television’s Mark Barton today. "These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks."
Iceland’s President Olafur R. Grimsson said his country is better off than Ireland thanks to the government’s decision to allow the banks to fail two years ago and because the krona could be devalued.
"The difference is that in Iceland we allowed the banks to fail," Grimsson said in an interview with Bloomberg Television’s Mark Barton today. "These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks."
(Via Atrios)
In what some are calling good fortune and others are referring to as a miracle, three teenagers who were thought to be dead were found alive by a fishing boat after being adrift in the South Pacific for 50 days well outside of commercial shipping routes, officials in New Zealand said. Family members of the two 15-year-olds and one 14-year-old, from the Tokelau Islands of New Zealand, alerted local search and rescue that something was wrong, and then the New Zealand air force launched a search of the area, according to Sky News. The boys had been presumed dead two weeks ago, and their small village had even held memorial services for them when their small aluminum dinghy was found Wednesday afternoon.
In what some are calling good fortune and others are referring to as a miracle, three teenagers who were thought to be dead were found alive by a fishing boat after being adrift in the South Pacific for 50 days well outside of commercial shipping routes, officials in New Zealand said.
Family members of the two 15-year-olds and one 14-year-old, from the Tokelau Islands of New Zealand, alerted local search and rescue that something was wrong, and then the New Zealand air force launched a search of the area, according to Sky News. The boys had been presumed dead two weeks ago, and their small village had even held memorial services for them when their small aluminum dinghy was found Wednesday afternoon.
- DemfromCT