Wednesday, October 8, 2008

Iceland getting chilled out

The wonderful small little country of Iceland which is inhabitated with about 3,20,000 denizens is heading for bankruptcy. It is on the verge of joining the elite group comprising Lehman Bros, AIG, Washington Mutual and could become the first country to go down in the current credit crisis.

What is interesting is not the fact that a country is heading for bankruptcy, a lot of them have in the past from Asian to African countries. What however is interesting is the fact that it would be amongst the first so called "developed" "rich" countries which will go down.

We live in interesting times. The times they are a changin.

1 comment:

Manish Chauhan said...

Atleast Zimababwe will not become Bankrupt , because everything has a Limit ,What can happen to a coutry with 231 million percent of inflation .