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Close Topic OptionsIceland pays price for rapid economic growth
Iceland Pays Price Rapid Economic Growth - Politics, Business, Civil, History - Posted: 4th Oct, 2008 - 2:27am
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Business - European Economy
Post Date: 3rd Oct, 2008 - 7:54pm / Post ID: #
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Iceland pays price for rapid economic growth
Iceland pays price for rapid economic growth
(AP)
European Business News
AP - As the world suffers a hangover from the financial excesses of the past few years, the tiny island nation of Iceland has a bigger headache than most.
Source: Yahoo! News: Business - European Economy
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growth economic rapid price pays Iceland
| QUOTE |
| Iceland's Prime Minister Geir Haarde has said that the Glitnir bailout is not the end of the banking crisis in Iceland, but he has so far shunned suggestions that Iceland join the euro currency, a step that analysts say could provide a measure of protection. In the longer term, Iceland is putting a lot of faith in its growing hydropower and geothermal energy industries to carry it through the credit squeeze and back to growth. Aluminum industry products are expected this year to overtake the traditional marine products industry in terms of revenue. |
I was just listening to the President of Iceland on the radio last night during our drive home. Apparently he is in Alaska to try and get support in developing geothermal energy. It was an interesting speech.
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TOPIC: Iceland pays price for rapid economic growth