The Iceland Cometh
What's the 2008 equivalent of the Dutch tulip bulb boom and bust in 1637, which reverberated across Europe with disastrous results after single Viceroy bulbs rose to a price equivalent to US$1,250? My vote goes to Iceland. Not only have all the tiny nation's three major banks - Landesbanki, Kaupthing and Glitnir, failed, but they left a trail of debt so…
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