Economy in for a hard landing?

According to the Danish national bank Danske Bank the Icelandic economy is in for a hard landing. As reported by Berlingske Tidende, the bank believes that the Standard and Poors assessment on Monday on decreased Icelandic credit ratings is bad for the Icelandic economy.

International business papers seem less worried, and yesterday the Financial Times published a story saying they believed the recent change of Prime Minister to be very positive for the Icelandic economy. Geir H.Haarde who will be taking over from Halldór Ásgrímsson was perviously Iceland's Minister of Finance.