These days we are subjected to multiple attempts to convince us that the only way of solving the economic crisis is that promoted by Ms. Merkel: to reduce expenses, to reduce expenses, to reduce expenses.
But it is not the only way, and the people in Iceland are fully aware of it. The banks can fall down. And life goes on: the end of banks does not equal to the end of the world.
The president of Iceland provided plenty of insightful comments in this interview to Business Insider, which I find extremely interesting.