Iceland Is Booming Again. Has It Learned Anything From the Last Bust?

People walk on a beach near the volcano Katla, a tourism hotspot, Vik, Iceland, Oct. 26, 2016 (AP photo by Frank Augstein).
People walk on a beach near the volcano Katla, a tourism hotspot, Vik, Iceland, Oct. 26, 2016 (AP photo by Frank Augstein).

It’s been quite the turnaround. Almost nine years after Iceland, a country with just over 300,000 inhabitants, became the poster child for the 2008 global financial crisis, many indicators show the economy is doing better than ever. After the 2008 crash, Icelanders engaged in extensive debates about what had precipitated the crisis and how best to prevent such devastation from occurring again. Many still fear another crisis is around the corner, wondering whether it’s “2007 all over again,” while others believe a “New Iceland” has freed itself from the conditions that led to the last crash. Listen to Thorgils Jonsson […]

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