Iceland President says let banks fail

Iceland President tells Davos 2013 – let banks fail instead of making the public pay for their failures. This is what Iceland’s done and its economy is recovering, unlike economies where governments have made the public pay to bail out banks. He also says shrinking the financial sector leads to increased competitiveness in other key 21st century sectors, as the talent that the bloated financial sector sucked in goes to innovative work.

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