Iceland defaulted on its debts (like greece should do) and then started again with a level playing field. Sex with animals... really? grow up!
No, Iceland did not default on its debts and 'walk away with a level playing field'.
The Government did not have the debt, the banks did. The Icelandic government separated the banks into good bank-bad bank and re-capitalised them to the tune of 1.5 billion euro's.
They had considerable problems which are un-resolved, they failed to protect savers in the banks unless they were Icelandic. This is illegal under EU and the EFTA-SA are prosecuting the government, however, most of the money has been paid from the sale of bank assets.
The current situation is that Iceland is under legal threat from its debtors., its economy is frozen due to the (again illegal) capital controls that preven money being converted/removed from Iceland. There are billions of euro's of bonds than the Government has to keep paying interest on with hard currency.
All importer/exporters have to convert money via the government control banks system and are give half the real world exchange rate, because of this there is no investment from abroad because its impossible to move money out again. Iceland's economy is on a knife edge and the people have no hope anything will ever get better, it could take a decade for the capital controls to be removed. In the mean time, Iceland is ******.
Argentina is teh usual country they use as an example of how to walk away from debts for a clean start. 11 years later they still are fighting the consequences of the default and have a currency thats fallen from parity to 4.5 to the dollar, 30% inflation and a breakdown in society.
Added to that Poland is too linked into Europe (free cash!!) and the 'whole brotherhood of the USSR of Europe'. If Europe fails Poland fails.
If you are going to try to have a discussion about something you obviously don't understand, try and cut and paste something without changing it to be so fundamentally wrong.
Hint:Poland has complete control of its currency because it is NOT in the Euro.