Iceland: IMF programme completed Post author By Philip Lane Post date September 1, 2011 The IMF country report is here. Categories In Uncategorized 5 Comments on Iceland: IMF programme completed ← Towards a More Equal Society → Iceland and Debt Forgiveness 5 replies on “Iceland: IMF programme completed” Nice to see news on Iceland on the site. They chose to do the brave right thing by not bailing out their private banks at the expense of their people, especially the most vunerable. Of course some people would say that you benefit everyone by bailing out the banks. Iceland have proven this theory wrong. Of course some people would say that you benefit everyone by bailing out the banks. Iceland have proven this theory wrong. Surely you mean that Ireland have proven this theory wrong! There couldn’t be a clearer contrast between the unqualified success of the Icelandic response to the bursting of their credit bubble, and the unmitigated disaster that has been Ireland’s response to the same issues. It is clear that the only legitimate response to a credit bubble bursting is to tell imprudent lenders to take a hike. That 5 year €1 billion bond fixed at less than 5% this June looks promising for Icelandics. Well done! ObsessiveMathsFreak Let us know when a Eurozone country exercises the freedom of action the Icelanders did, even when threatened by UK terrorism laws. Well done Iceland I would like to think that the mix of Danish and Irish blood in their genes have contributed to their intestinal fortitude despite being a small (but obviously very proud) nation. Comments are closed.