Iceland: People before profits and people before banks!
Jan 7th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The decision of the President of Iceland to refuse to sign a Bill providing for compensation for UK and Dutch depositors of the failed online unit of one of his country's banks, has won both plaudits and criticism overseas. However, despite the central role of banks in the misery inflicted on millions by the global recession, beware of populist bandwagon jumpers offering slogans such as "people before profits" and "people before banks."