Iceland Attack

Via Paul Krugman, reports of a financial speculator attack on Iceland. You've got to figure that Iceland is almost uniquely vulnerable to this kind of thing. It's a rich country, but with a tiny population of only around 300,000 people that still left it with a 2006 PPP-adjusted GDP of just $12 billion. Under the circumstances, lots of individual people and institutions are rich enough to make huge waves in the Icelandic economy if they're so inclined.

Photo of Reykjavík by me, available under a Creative Commons license