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Iceland

 
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HenryTo
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PostPosted: Wed Mar 26, 2008 7:32 am    Post subject: Iceland Reply with quote
Aside from Eastern European countries such as Latvia and Hungary, Iceland is also a country to watch, even though its population is a mere 300,000:

http://www.ft.com/cms/s/0/86390a7a-faa1-11dc-aa46-000077b07658.html

Quote:
The Central Bank of Iceland on Tuesday raised its benchmark rate by 125 basis points to 15 per cent be­cause of persistent inflation. The consumer price index has averaged more than 4 per cent in recent years – far above a 2.5 per cent target – and the central bank has failed to curb inflationary expectations. Iceland is also suffering speculation about its banks and a rapid decline in its currency. The risk is that foreign investors will rush to withdraw, the Icelandic krona will collapse and the economy will contract sharply.
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