Iceland Too Poor for McDonald's

With currency off 80%, golden arches fall
Iceland Too Poor for McDonald's
In this photo made on Wednesday, Oct. 14, 2009, the trademark golden arches logos are seen at a McDonald's restaurant in Pittsburgh.   (AP Photo/Keith Srakocic)

Soon there will be at least one country you can visit without seeing the golden arches. The financial crisis hit Iceland’s currency so hard that McDonald’s, which imports most of its ingredients, can’t afford to operate there anymore. “We would have to raise our prices by 20%,” the head of the country’s franchise holder said. “That would have sent a Big Mac to 780 kronur.” At roughly $6.36, that would make it the most expensive Big Mac in the world. (Read more McDonald's stories.)

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