Iceland is growing at 2 percent, faster than much of Europe. But Petursson's comments underscore worries about the recovery's sustainability in a straightjacket of capital controls - coupled with questions over having a currency that one politician compared to the Disneyland dollar.
Growth has been downgraded this year from 3 percent to 2 percent. Inflation is stubbornly high and the central bank has been forced to step up intervention in the currency market to prop up a weakening crown.
Many expected Iceland's recovery to be stronger given the way smaller economies can bounce from deep recessions. The International Monetary Fund had originally forecast annual growth of around 4.5 percent from 2011-2013. It now is under half that.
When did Iceland become a "tax haven" intentionally or otherwise? If you're thinking of the recent banking crisis, a "high-interest rate account haven" would be a more accurate term.
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When did being a "tax haven" become a bad strategy for country or smaller jurisdiction?
Not in order, and to be continued by others:
1. Iceland
The first, recent, article I found on Iceland seems to be critical, though not in a particularly damning way: http://www.reuters.com/article/2013/02/21/us-iceland-economy...
Iceland is growing at 2 percent, faster than much of Europe. But Petursson's comments underscore worries about the recovery's sustainability in a straightjacket of capital controls - coupled with questions over having a currency that one politician compared to the Disneyland dollar.
Growth has been downgraded this year from 3 percent to 2 percent. Inflation is stubbornly high and the central bank has been forced to step up intervention in the currency market to prop up a weakening crown.
Many expected Iceland's recovery to be stronger given the way smaller economies can bounce from deep recessions. The International Monetary Fund had originally forecast annual growth of around 4.5 percent from 2011-2013. It now is under half that.
When did Iceland become a "tax haven" intentionally or otherwise? If you're thinking of the recent banking crisis, a "high-interest rate account haven" would be a more accurate term.