Economics
Iceland's GDP Soars 10%, so Residents Are Preparing for the Next Crash
- Wages, housing prices rising by double-digits amid boom
- Icelanders say economy much more diversified to handle shocks
Reykjavik, Iceland, on Jan. 14, 2016.
Photographer: Arnaldur Halldorsson/BloombergThis article is for subscribers only.
Iceland’s history is of booms and busts.
So as the inhabitants of a volcanic rock in the middle of the North Atlantic ocean roar back from their 2008 economic meltdown (this latest boom was fed by tourism and construction), the talk in the streets is of what shape the next crisis will take and when exactly it will hit.