Posted Tue, Dec 23, 2008 by Medeor
If you think the market is bad here, try Iceland.
The Uk's Guardian reports that Iceland is in an economic tailspin that may take generations to repair. Discussing specific tales from younger couples dealing with debts that are tied to the currency doubling (yes, their debt is doubling - how would you like your car payment to double, yikes!). The damage is extensive and growing. Even companies like CCP, the developers of EVE online may be forced to move off the island if they can't bring foreign investors in:
"To make new games, we need foreign investors," says Eyjolfur Gudmundsson, formerly an assistant professor at the University of Akureyri, who supervises Eve's virtual economy. "The present currency restrictions are putting us in a straitjacket. We are in talks with the government, but if we can't let capital in, we might be compelled to leave Iceland, even though this would be against our wishes."
This shows that even though CCP is weathering the economic storm as best it can, there are other forces at work that may require CCP to take drastic actions. Atlanta (CCP offices in the U.S.) is a nice place, but I'd hazard a guess that it's no Iceland. The pain and suffering can be found on the Guardian's site.