Debt forgiveness in Iceland

Iceland?s expanded debt relief programme in Iceland is targeting too broad a demographic, the OECD has warned.

By the end of 2013, Iceland?s banks will have forgiven almost ?250 billion kronur (?1.6 billion) in consumer debt, equal to more than 14 per cent of gross domestic product, according to estimates from the Icelandic Financial Services Association.

Here is a bit more.

Source: http://feedproxy.google.com/~r/marginalrevolution/feed/~3/DifwbEoHvFY/iceland-fact-of-the-day-2.html

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