Who will be the next Iceland?

[wombat]

Imagine hundred of thousands of ecently unemployed Public sector employees from Norn Iron and members of their welfare industry dedending on us while good become even cheaper as stirling free-falls.

I thought you guys had a united Ireland as a core value?

[Defeated Romanticist]

Course we do. But we don't want the price of being a pound of flesh.

[ballot stuffer]

Iceland has used devaluation to good effect and is now on the road to recovery. Membership of the euro is something we need to look on as a policy and not a principle. If the national interest is better served by leaving then we should do so. I don't think we are yet at the stage where it is a live issue but a few years of stagnation might change that.

If by recovery you mean on course to run out of cash by the summer then maybe.

For the millionth time they haven't "devalued". Devaluing implies they were in control of the price of the Krona or keeping it in a band. The Krona was not pegged to any currency.
It also implies they are letting the value of the currency slide for economic reasons. They are not. They are doing everything in their power to try prevent it sinking any further.

[cropbeye]

Williams started to write a good article about Iceland in The SBP

today but it fizzled out in the end.

If there had been a second half then it could have been very good.

[BodyofEvidence]

more "its the euro's fault" nonsenese. Tell you what, all your eurohaters, hawk them over to me or the SPCA if you find them offensive. eejitology never goes out of fashion

[/etc]

Uk definitely a possibility - George Soros, March 29, 2009

As to what it will be like, this will give you some clues.

[eurosceptic]

I am reminded of an excellent discussion on newsnight a few months back when it was pointed out that at the peak of the empire "glory days" 30% of the british economy was manufacturing and 10% financial services. Today its 20% financial services and 10% manufacturing. The brits have left themselves heavily dependent on moving money around advantageously to generate income.
The greatest irony of the lot is that even if the brits wanted into the euro they would be told where to go.