IMF data shows Iceland’s economy recovered after it imprisoned bankers and let banks go bust – instead of bailing them out

Posted on June 12, 2015


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Iceland’s finance minister has announced a 39 per cent tax on investors looking to take their money overseas.


The country has imposed the tax to prevent it hemorrhaging money as it loosens bank laws imposed six years ago, when Iceland made the shocking decision to let its banks go bust.

Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where banks were fined, but chief executives escaped punishment.


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