Lessons for Europe from the 2008 Icelandic Bank Collapse
New Direction, 8. jan. 2019 - 93 síđur
The spectacular collapse of the Icelandic banking sector in late 2008 was because the Icelandic banks were refused liquidity assistance by the US Fed, the ECB and others, while other European banks received such help. Moreover, the UK Labour government invoked an anti-terrorist law against Icelandic government institutions and an Icelandic bank.
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Alistair Darling announced Anti-Terrorism Act Bank of England bankers banking crisis Benediktsdottir billion British banks Business Affairs Minister Chancellor Darling constitution credit crunch currency swap deals Danske Bank Darling’s David Oddsson decision depositors deposits dollar swap deals economic Emergency Act English European central banks eurozone Federal Reserve Board Finance Minister Arni foreign Frettabladid Fridriksson Geir H Geithner Gisladottir Glitnir Gordon Brown government ministers Governor Oddsson Gunnarsson Heritable Bank Hreinsson Icelandic authorities Icelandic bank collapse Icelandic banking sector Icelandic economy Icelandic Financial Crisis Icelandic government Icelandic Treasury Icesave accounts IFSA Impeachment Court interview Jon Asgeir Johannesson Jonsson Kaupthing Kaupthing’s Landsbanki liquidity Luxembourg markets Mathiesen Mersch Mervyn King Nordic countries October Ombudsman Parliament Photo political Prime Minister Brown Prime Minister Geir Prime Minister Haarde request Reykjavik Scandinavian central banks Scottish September 2008 SIC members SIC Report Sigurdsson Sigurgeirsson Social Democrats Supervisory Notice swap line transfer