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Iceland Cancels Mortgage Debt For Most Of Its Population

By Mindy Allan
Posted Apr 22, 2012 in Business
April 22, 2012
Three years after being bailed out by the International Monetary Fund Iceland decides to put its politicians, and bankers on the bench of the accused. The people of Iceland have been saved by their government during a time of economic collapse, in hopes of changing the outcome for Iceland.
Without mortgages to pay, this frees up money to be spent in other ways which will fuel growth in the economy of Iceland. What would happen if this action started to take hold in other countries?
The only one that loses is the bankers, who have ridden on the coattails of those who have struggled to create a better place to live. What a wonderful world it would be, if this action became viral around the world!

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