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Iceland’s seven meagre years

Gylfason, Thorvaldur, (2015), “Iceland’s seven meagre years”, Voxeu, 26 Νοεμβρίου.

Seven years after its crisis, Iceland has staged an economic recovery. This column suggests that despite its overall success, the current economic situation in Iceland is not devoid of problems. Insufficient competition in certain areas keeps real wages lower in Iceland compared to other Nordic countries. The current government in power seems not to have learned enough from the crash of 2008. Finally, Iceland still needs to bring to justice more of those responsible for breaking the law while breaking the banks.

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