Matthew Feeney on How Iceland Provides a Blueprint for Surviving Bank Failure

Taxpayers in Europe (and the United States) who have been terrorized since 2008 by government officials warning about economic armageddon, catastrophe, and pestilence should look to tiny Iceland for a taste of how little there is to fear when the experts can't save the people. 

In the last few years the small island in the north Atlantic has managed to shrink its deficit, reduce unemployment, and allow its economy to grow. Assistant Editor Matthew Feeney examines how those working in mainland Europe's institutions and governments could learn from Iceland's recent history if they would like to see similar results.