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Iceland: "We Allowed the Banks to Fail and We Were Blessed with Our Own Currency."
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Iceland President on Crisis: "We Allowed the Banks to Fail, and in the End, We Were Blessed with Our Own Currency."
December 1, 2011 • 9:52AM
The Icelandic people are getting through the crisis by not bailing out the banks, but putting them into bankruptcy.
The President then says: "I came to this crossroads, that fundamentally the choice was simple: On the one hand, there was the democratic will of the people, and on the other the financial demands of other foreign countries and the European market. And my conclusion was, that democracy was a more fundamental part of what we are, not only in Iceland but in Europe, than the free market."
www.larouchepac.com/node/20595
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