Postcards from the edge
Posted by Mark on 19th Sep 2011
I've just come back from a spot of credit crunch tourism in the former hedge fund better known as Iceland. Despite effectively going bankrupt in 2008 with debts that reached a staggering 850% of GDP and more recently refusing to give into pressure payback £4bn to the UK and Holland, for the second time, I can confirm to any Greeks reading, that there is life after default.
The streets are still as clean as glacial water and the only civil disobedience occurs as a result of the awesome ferocity to which most of the population seems to throw themselves into their drinking from midnight onwards.
Despite their travails they also are very good hosts, Alastair Darling's use of anti-terror legislation to effectively nuke their banking sector does not seem to have left any long term resentment and of course all the men are fluent in English (Premier League).
With the most extraordinary landscapes on earth, endless water (hot and cold running) and almost free electricity, the rest of the century might be somewhat kinder to the 320,000 souls who live on the edge of the habitable world and in the meantime all of their unemployed bankers could earn a few extra Krona advising the PIIGS on how to default and get on with their lives.