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Politics : View from the Center and Left
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To: JohnM who wrote (220154)3/21/2013 1:13:25 PM
From: Steve Lokness  Read Replies (1) of 542219
 
<<<<< Krugman offers several reasons as to why Cyprus and Iceland are comparable. Which is, unfortunately, several reasons more than you have offered that they are not comparable. >>>>>

Bull, not in this article he doesn't! I named two things the two countries have in common and that is two more than Krugman offered! I said they were both tiny weeny countries and that both had lived on borrowed money. Here is the full read on what Krugman says about Iceland;

<<<<<<Cyprus is arguably better positioned than Iceland to do an Iceland, because devaluing a reintroduced Cypriot currency could bring in a lot of tourism>>>>>

That in fact says they are DIFFERENT and list no similarities. The only similarity offered by Krugman is his one solution fits all and that they should devalue their currency. BUT that is Krugmans false similarity in a solution and in fact has nothing to do with similarities between the two countries.
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