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Iceland’s Pots & Pans Revolution; Pragmatic, Everyday Revolutionaries part 2

The Poor Prole’s Almanac

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The CreditDefault Swaps Spread on Icelandic Banks

In early 2006, international credit rating firms such as Standard and Poor's expressed concern about the overheating of the Icelandic economy. The response from Icelandic authorities was to dismiss these concerns by stating that use of faulty data or incompetent calculation. "I just wanted to remind everybody that lying under oath or in a position of public office is a crime," he says.

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