Iceland is a good example of the fallibility of the rating agencies. During Iceland’s financial crisis, no one – and least of all the rating agencies – seemed to wonder why three banks from a tiny island with no history of banking could out-earn foreign banks despite borrowing at a relatively high cost.
Tag Archives: Iceland
How do unionists respond to the SNP’s Alex Salmond? Perhaps the best option is to bring on an independence referendum sooner rather than later, writes Ed Jacobs.
Tory MEP Daniel Hannan has failed to condemn Iceland for its refusal to repay Britain a £3.6 billion loan.