Icleand has shown us what democracy looks like. They nationalized banks, fired and arrested the banksters, defaulted on bonds, and are now recovering.
Renewable eneregy has aided in that recovery. Emphasis added.
“I chose the democratic will of the people over the force of the market,” Grimmson said. In other words, the irresponsible bankers, who the Iceland Finance Minister even compared to Enron, lost their jobs — not middle class workers. Clearly, Occupy Wall Street sympathizers will find this brand of leadership inspiring.
But there’s another aspect of the story that should intrigue the green-inclined. Iceland, Grimsson says, is now powered entirely by clean energy. And that has led to post-crisis investment that has helped Iceland weather — and begin to emerge from — its recession.