It's funny how some people in this thread continuously refuse to read the facts.
As I already linked and quoted previously in this thread from the pages of the IMF, there has been no major backlash from the international financial sector towards Iceland. They are actually getting better rates than countries who in the similar situation took a different path. And this even though UK, a huge player in the financial market, tried to essentially crush Iceland in petty revenge.
Which of course makes perfect sense. Money will be lent for those who can pay back, and those who are riddled with massive debts will have trouble borrowing more money.
At the end of the day, predictability and decisiveness are things that are greatly valued by the financial markets. Iceland was relatively quick to come to decisions about what they felt needed to be done, and they were stern in following through with their plan despite outside pressure. This makes them look good in the future.
When compared to the everlasting indecisiveness of the US and countries in the EU in their times of trouble, and adding that the bloody IMF is basicly saying that "we were wrong, Iceland was right", I'm actually quite amazed that people still think they didn't make exactly the right choice.
|