Icelandic news translated into English

November 8, 2008

No other country crashed this fast

Filed under: economy,families,jobs — newsfrettir @ 6:09 pm
Tags: , , , ,

“Stunned Icelanders Struggle After Economy’s Fall ” is the headline of a long article about the economy and state of mind of the Icelandic nation, which is posted on the website of the New York Times today. The author Sarah Lyall, speaks to a few Icelanders and puts up a picture with that of the situation and the atmosphere in the community.

It says in Lyalls article that the crash had happened so suddenly that one woman described it like being hit by a train. Another person she spoke with says it is almost like being imprisoned, but not knowing why.

Lyall says that it seems as the nation is is total shock. A month ago when the first hit came it was like it was a bad dream but now Icelanders are waking up to that the nightmare is coming true.

She talks about how people lost their savings, how prices are going up, how the restaurants are empty, the currency of the króna crashed and all currencies are rationed so companies are in trouble doing business with other countries.

“No country has ever crashed as quickly and as badly in peacetime,” says Jón Daníelsson, economist at the London School of Economics in his interview with Lyall.

Sarah Lyall Article

(News Article by Ómar Ómarsson)
Original Article in Icelandic

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