The word mostly used by the Icelanders nowadays is "Kreppa", which means financial crisis. Recent years Iceland have known an enormous economic growth thanks to a low unemployment and a high income per person, but because of the large number of assets compared with a small economy the Icelandic economy wasn't very stable.
After a few changeable years between 2003 and 2007, and the attempt of both the banks and the country to make it to safety, the banks weren't able to repay their debts. When the government nationalised the third-largest bank, there came a lot of panic and at the moment the Icelandic economy is in big trouble.
Mathieu De Beule
http://www.economist.com/finance/displaystory.cfm?story_id=12382011
1 opmerking:
The word mostly used by the Icelanders nowadays is "Kreppa", which means financial crisis. Recent years [In recent years] Iceland have known [has experienced] an [drop 'an'] enormous economic growth thanks to a [drop 'a'] low unemployment and a high income per person, but because of the large number of assets compared with a small economy the Icelandic economy wasn't very stable.
After a few changeable [???] years between 2003 and 2007, and the attempt of both the banks and the country to make it to safety, the banks weren't able to repay their debts. When the government nationalised the third-largest bank, there came a lot of panic [..., panic started...] and at the moment the Icelandic economy is in big trouble.
Mind un-English structures (use of articles). Good flow.
olaf
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