Tuesday, October 14, 2008
Icelandic Shoppers Splurge as Currency Woes Reduce Food Imports
Tiny Iceland -- I've described it as a country with the population of Greensboro -- may be getting ready to go through some horrific times. Those living in insular countries face a daunting prospect in these times: there's no place to go. What's more a country the size of Iceland has far less rabbits to pull out of the hat than do larger countries such as the US or Britain.
"After a four-year spending spree, Icelanders are flooding the supermarkets one last time, stocking up on food as the collapse of the banking system threatens to cut the island off from imports."