Only One Country Did Was Right After the Collapse of 2008.

#iceland #bank #debt #economy

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Today we will look at the island nation of Iceland and the country's reaction to the 2008 banking collapse.

Iceland's three biggest banks at the time were highly leveraged and had assets and liabilities ten times the country's GDP.

So in the aftermath of the Lehman collapse, Iceland's three big banks' credit lines were cut and the country's currency, the Krona, collapsed and the economy followed as inflation and interest rates rose.

We will look at how Iceland's government reacted to the crisis and how its economy actually recovered.

Icesave: A British Perspective: https://grapevine.is/mag/articles/2012/07/18/icesave-a-british-perspective/#:~:text=Invoking%20the%20Anti%2Dterrorism%2C%20Crime,20%2C000%20pounds%20in%20the%20meantime.