Can Geothermal Power in Iceland Thaw a Frozen Economy?
Tuesday, February 17, 2009 - 18:07
in Mathematics & Economics
Every day when David Oddsson goes to work, the head of the Central Bank of Iceland must brave a crowd of jeering protesters, angry that the man they view as the chief architect of Iceland's near-total financial collapse refuses to step down. This tiny country of 300,000 spent the past decade becoming a financial hub of Europe, loading its banks with so much debt that when they finally collapsed, their inability to pay back account holders in the U.K. led that country's prime minister, Gordon Brown, to freeze Icelandic assets under a law designed to fight terrorism. [More]