Iceland president: Let banks go bankrupt [View all]

[DeSwiss]

AlJazeeraEnglish · Published on Jan 25, 2013

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 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."

- He makes an excellent point. One that Mother Nature endorses, as she breaks down and recycles dead wood all the time.....