Dealing with globalisation - Iceland's Oddsson
Opening a conference in Iceland the governor of the central bank, David Oddsson, set out what he sees as the main challenges for small open economies with independent currencies in dealing with globalisation.
"Special conditions", the governor noted, "have inspired new investors, the carry traders, to venture to our shores. These modern-day Vikings try their fortune in distant places in the hope of quick gain and handsome returns, which they can no longer find closer to home. What will happen
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