NZ ONE OF 13 MOST " AT RISK" COUNTRIES FROM GLOBAL CREDIT CRISIS

We have been posting on the Iceland issue a lot - ( thanks to the Sweeper) and it seems we were on the money again - We should be watching what happens on the big Popsicle in the North very carefully.

New Zealand is among 13 nations named by BusinessWeek as most at risk from the global financial crisis.

The article compared New Zealand to Iceland because of its heavy dependence on foreign money to fund its current account deficit.

"Like Iceland, New Zealand was a favourite of investors playing the yen carry trade. And like Iceland New Zealand is hurting," the American magazine said on its website.

BusinessWeek compares Iceland with NZin the Herald