2008 Global Financial Crisis Impact

This is a Iceland news story, published by MSN, that relates primarily to GFC news.

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How Iceland Lost 50% of Its GDP, And Recovered

Summary

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54% Informative

Iceland lost nearly half of its economic output over just two years after the financial crisis of 2008 .

The impact of the GFC on nominal economic output in Iceland was 10 times more severe than in the USA .

Iceland 's central bank backed out as a lender of last resort to save banks from a cataclysmic fallout.

Iceland is now one of the wealthiest economies in the world.

Iceland is the 18th largest island in the world, with a population of 394,000 square kilometers .

The country has about 30-7 large and 200 smaller hydroelectric power plants, with more to be built in the foreseeable future.

Geography is on their side in a series of conflicts with virtually no casualties.

Using both energy sources to their advantage, Iceland produces more electricity per capita than any other country on earth, which is only to grow in coming decades .

Geothermal power is just another natural resource that can be exploited for huge monetary gains.

But it also has two significant advantages over something like oil.

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informal

Language

English

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not offensive