Whereas billions of public money was pumped into the banking system in Ireland so that financial institutions could pay back their creditors, Icelanders voted against this route in two separate referenda. That may sound like an extremely self-serving recipe - and it was. The rules are as follows: Allow your ailing banks to collapse devalue your currency if you have one of your own introduce capital controls and try to avoid paying back foreign debts.
PETTA REDDAST SERIES
Iceland's rapid return to health hinged on a series of measures that Nobel laureate Paul Krugman later referred to as "doing an Iceland." Krugman, an admirer of Iceland's dramatic comeback, has recommended a similar policy cocktail for other nations in crisis. In 2012, the number of German tourists to Iceland, with 65,000 visitors, was in third place behind the US and Great Britain. "Even Wagner borrowed from our legends for his operas," he says. "Germany has a weakness for Iceland," says Jónsson, who now works as an economics professor in Reykjavik. In 2010, German banks had over €20 billion in open claims in Iceland.
Still today, Germany is the country's largest creditor, he says. It was German money, Jónsson says, that flowed the most freely following the liberalization of Icelandic banks in the 1990s. What's more, salaries are rising, the national debt is sinking and the government has paid off part of the billions in loans it received in 2008 from the International Monetary Fund ahead of schedule. Since 2011, the gross domestic product has been on the rise once again, most recently at 2 percent. But Iceland, with a population of just 320,000, has also staged what appears to be the fastest recovery on record. It seems likely that never before had a country managed to amass such great sums of money per capita, only to lose it again in a short period of time. What happened in Iceland from 2008 to 2011 is regarded as one of the worst financial crises in history. SPIEGEL spoke with an investor, a finance minister and a fisherman, in addition to an economist who says apologetically: "Icelanders are just daredevils." And then there was a sex and knitting expert who says she believes Iceland has "found its way back to itself." SPIEGEL Media Menü SPIEGEL Media aufklappenīut now they have returned to fishing, and gladly talk about their journey back to financial health.Alle Magazine Menü Alle Magazine aufklappen.SPIEGEL-Heft Menü SPIEGEL-Heft aufklappen.Gutscheine Anzeige Menü Gutscheine aufklappen.Marktplatz Anzeige Menü Marktplatz aufklappen.Partner-Inhalte Anzeige Menü Partner-Inhalte aufklappen.Wissenschaft Menü Wissenschaft aufklappen.
You do want to want to call them and chat for a while but your mind is saying “no wouldn’t it be much better if you and I would just cozy up on the sofa and watch some Friends without anyone interrupting?” Now again you nenna ekki. There is this party and you want to want to go but you had a long day at work and your mind and body is saying no, then you nenni ekki.Īnother one: You need to call family members and thank them for your Christmas presents. Some have tried to explain this by saying I can’t be bothered but for me, that doesn’t fully sum it up.Ĭan’t be bothered is more that you feel you are above doing this but to nenna ekki is mainly caused by the fact that you don’t want to physically or mentally do something. The verb nenna is mainly used negatively, ég nenni ekki. Well, then you have experienced not to nenna. You know when you want to want to do something but you just can’t find it in your heart to do it because you are too lazy or don’t want to handle the outcome.
This is a tough one to explain but here it goes: