Kasz216 on 26 March 2009
| SamuelRSmith said: The difference being that a lot of Iceland's debt was in the UK, and other nations. Seeing as London is the world's financial sector, it's only reasonable to believe that most of this nation's debt is with other British banks, which are much easier for the Gov't to control (especially when they now own most of the big hitters). |
It's not.
Note "External debt". As in outside of the country.
It sits at over 10 trillion dollars. With a GDP of slightly over 2 Trillion.
It's about 5 to 1.
Icelands External Debt when they hit bankruptcy was 6 to 1.
Now up to 9 to 1 i believe.
