"Many lessons have been learnt, several of which are relevant to other European countries. The Icelandic government has pursued the politics of social and economic inclusion. Those on higher incomes have contributed more in absolute terms through the adoption of a progressive system of taxation, while those on lower incomes have been sheltered. Welfare services were cut less than other areas of public spending. The outcome has been as intended: a more equitable net income distribution. Purchasing power among lower-income groups has been better maintained than among those with higher incomes, enabling them o continue as active participants in the economy."
Finansmarknadsminister Steingrímur J. Sigfússon i Financial Times
om Islands hantering av finanskrisen.