The visible hand in economics

Iceland’s bankrupt: Is this where NZ is going?

Posted on: December 12, 2008

So we all know that Iceland is bankrupt – what is the situation like for New Zealand?

A few of the stories I saw when Iceland first went into massive trouble were here, here, and here.  At the time the comparison was so popular that there was a Dom Post article on the risks of New Zealand’s current account.

However, I think by now it is obvious that I am not going to agree :P  Our stock of debt is equal to one years income – I don’t see how this is unsustainable!

So tell me – are we heading towards bankruptcy, are we heading towards a bumpy ride, or are we heading towards more “golden weather” :)

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3 Responses to "Iceland’s bankrupt: Is this where NZ is going?"

all the small economies are going to struggle for the next 5 years

the world is going into recession look at Europe

Look to Portugal and Spain next

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