The country that closed all their McDonald’s, Starbucks and other foreign restaurants

World News Nilgun Salim
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Iceland is an island country situated between the North Atlantic and the Arctic Ocean. Iceland was ruled by Denmark until 1^st December 1918.

Recently, Iceland came into limelight due to its impressive football team that made wonders at the UEFA EURO 2016.

The national team of Iceland managed to get in the quarterfinals, where it was defeated by the host of the tournament, France’s national football team.

The country overcame bankruptcy eight years ago and recovered spectacularly. Despite the fact Iceland is not a member of the European Union, the northern state has a very good economic strength (growth of 3.5% and an unemployment rate of 4%).

The solution was the ‘austerity diet’, but unlike countries like Greece or Spain, Iceland offset taxes increased the value of its currency, factor that boosted exports.

Historically, most regions of Iceland are depending on the fishing industry, which still provides 40% of the export earnings and implies 7% of the workforce, according to Wikipedia.

Iceland has no army and is the most peaceful country in the world, due to lack of armed forces, low crime rates and high levels of sociopolitical stability.

However, Iceland is a country where people rarely lock their homes and cars, according to a tourist who recounted his experience on the site googlygooeys.com.

Iceland has no local McDonald’s. All the restaurants owned by the American fast-food chain were closed during the 2009 crisis.

They are also free of casinos, they do not have Starbucks or any other foreign restaurant, according to economist Magnus Sveinn Helgason.

Iceland is experiencing a vigorous growth, the unemployment rate is almost nonexistent and the public debt registered astonishing numbers.

Today, 90% of the homes in Iceland are heated with geothermal water. In addition, Iceland is the third happiest country in the world, according to the latest UN study.