Thorvaldur Gylfason; Gylfi Zoega - 2019
this regard. The external debt of Greece, Iceland, Ireland, and Spain increased exponentially, in Iceland at a rate higher … than the rate of interest on foreign debt. The Ponzi scheme that played out in Iceland begs the question why a country … valued financial gains above all else collided with socially desirable outcomes. The root of the problem in Iceland as well …