Nothing compares 2U

Since the financial crisis hit Iceland a lot has been made out of comparisons to the way Sweden and mostly Finland got out of their own crisis’ in the nineties. We have also been regularly reminded of and compared to Argentina and SE-Asia, famous borrowers of the IMF:

Did any of these countries face their economic disasters with most of the home loans in the economy price-indexed? I am not sure but I doubt they did. So the comparisons are not valid at all, unless all of their citizens were bankrupted overnight.

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The disappointment of the year is Ingibjorg Solrun Gisladottir, the head of Samfylkingin and foreign minister. She has gone quickly from being the person most likely to rid us of David Oddson’s Independent Party reign of terror to being his mistress. Absolutely dreadful turnaround.

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