Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen
Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
... is the rhetorical question that Iceland's President asks (and answers) in this truly epic three minutes of truthiness from the farce that is the World Economic Forum in Davos.
Amid a week of back-slapping and self-congratulatory party-outdoing, as John Aziz notes, the Icelandic President explains why his nation is growing strongly, why unemployment is negligible, and how they moved from the world's poster-child for banking crisis 5 years ago to a thriving nation once again.
Simply put, he says,
There are lessons here for everyone - as Grimson explains the process of creative destruction that remains much needed in Western economies - though we suspect his holographic pass for next year's Swiss fun will be reneged...