Wednesday, January 28, 2009

Britain the next Iceland?



At Foreign Policy, David Kenner says it's quite possible the UK economy will implode as badly as Iceland's. A holding of foreign debt twice that of the total British annual economic output, combined with the EU expecting the British economy to contract nearly 3 percent this year, puts it atop a five-country sick list.

Latvia, Greece, Nicaragua and Ukraine round out the list. Read why.

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