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Perhaps no economy in the world is in such disastrous shape as Iceland. Last year, the weight of the global financial crisis crushed this island nation causing its banking system to implode, its currency to collapse and its unemployment rate to soar.

This is quite a reversal for the country founded circa 874 AD. The United Nations' Human Development Index ranked Iceland as the world's most developed country. Maybe that was the result of the reckless abandon shown in running the country's banks.

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Faced with economic disaster, Icelanders could care less that their prime minister is gay originally appeared on BloggingStocks on Thu, 29 Jan 2009 18:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>eueuropegayicelandinthenewsJohanna SigurdardottirJohannaSigurdardottirThu, 29 Jan 2009 18:15:00 EST