A look at Iceland, four years on


Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country.

Growth sank, house prices plunged, unemployment soared and all the banks had to be nationalised.

But unlike the UK, Iceland let its troubled banks simply die and since 2011, the country has seen growth average at over 2% - comfortably more than the UK.

The macro economic good news however masks the pain being felt by many ordinary Icelanders.

BBC Newsnight's Joe Lynam has been there to ask what we can learn from the Icelandic experience.

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.