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FrodosPet

(5,169 posts)
Mon Jun 16, 2014, 04:51 AM Jun 2014

Iceland: Less Painful to Drop Capital Controls Quickly?

http://icelandreview.com/news/2014/06/13/less-painful-drop-capital-controls-quickly

BY ALËX ELLIOTT June 13, 2014 13:05

A new report claims that Iceland’s capital controls, imposed at the start of the financial crisis, should be removed quickly rather than slowly.

Removing the capital controls quickly would be painful for Iceland and its economy, but less painful than dragging the process out. This is according to a new report by the international analysis and consulting company KPMG, which was released today.

~ snip ~

The longer the controls linger, the worse the impact on the economy in the long term. “We find ourselves in an environment where companies flee the country, we live with persistent inflation, high interest rates and lowering purchasing power.”

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Iceland: Less Painful to Drop Capital Controls Quickly? (Original Post) FrodosPet Jun 2014 OP
Well that settles it then. No one should ever hurt the precious companies.... Oakenshield Jun 2014 #1

Oakenshield

(614 posts)
1. Well that settles it then. No one should ever hurt the precious companies....
Mon Jun 16, 2014, 07:34 AM
Jun 2014

We have to always support them, and if that means subsidizing their factory relocation to China then maybe we should look at our own respective wages. In China they pay workers less, and look at how big their economy is! Clearly the industrialized world needs to get rid of the minimum wage.

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