subject: Do We have Answers to Financial Responsibility and the Global Recession? [print this page] Do We have Answers to Financial Responsibility and the Global Recession?
The recession eventually rolled around the world, fuelled by innumerable other events that attributed towards the snowball effect of the recession. Iceland's banks also succumbed to pressures felt as the recession rolled past. An investigation that looked into irregular activities of some of Iceland's government leaders, reported they should be held accountable for gross negligence'. As a result the whole of Iceland's banking system failed, along with its government. Many other key figures were taken down alongside this downfall. It is not just the US and Iceland that were affected, but events occurring in both these countries had profound effects on banking systems around the world, with repercussions still reverberating today. Government leaders are attempting to make considerable sums of money available to help prop up failing industry in the hopes of getting unemployed back into work. This will not happen overnight and recovery is going to take some time.
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