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Iceland President Olafur Ragnar Grimsson tells Al Jazeera’s Stephen Cole that Europe should let banks that are ran “irresponsibly” go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson, he also held his country as a model of economic recovery after its near-collapse four years ago.
“We didn’t follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery,” stated Olafur Ragnar Grimsson.
Source, credit to Aljazeera- http://www.aljazeera.com/video
What’s your take? Should we be bailing banks out or letting them go bankrupt? Tell us in the comments.