It seems strange to hear that but its true! Icelnd is bankrupt! I don’t think that many people knew of this outside the financial market and it was probably just a news bite on most media broadcast who are reporting the mega meltdowns going on worldwide and the summit that just took place in Washington. Iceland however is not the only one facing economic collapse. There are mounting fears that Ukraine, Kazakhstan, and Argentina could all now slide into a downward spiral towards bankruptcy, while western banks exposed to property bubble across Eastern Europe have seen their share price crushed.
I don’t have any doubts that as this economic meltdown continues to spread across the world more and more of the smaller countries will find themselves following the same path of Iceland. Click here for the Iceland situation. The news is about a month old but it does merit a spot here so people can really appreciate the situation our world is in.
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