The Icelandic Financial Crisis: A Study into the World?s Smallest Currency Area and its Recovery from Total Banking Collapse (Palgrave Macmillan Studies in Banking and Financial Institutions)

This book presents a detailed account of IcelandÆs recovery from the tumultuous banking collapse that overturned its financial industry in 2008. Early chapters recount how IcelandÆs central bank was unable to follow the quantitative easing policies of the time to print money and save the banks, while serving the world ?s smallest currency area. The book goes on to explore how the government exercised force majeure rights to implement emergency legislation aimed at preventing the ôsocialization of lossesö. Later chapters investigate how, eight years later, these policies have yielded renewed growth and reinvigorated liquidity streams for the financial system. The authors argue that Iceland, long-called the æcanary in the coal mineÆ of the developed world, offers important lessons for the future. This book will be useful to all readers interested in better understanding the unique history of IcelandÆs banking crisis and the phenomena of its recovery.

• | Author: Asgeir J?nsson, Hersir Sigurgeirsson
• | Publisher: Palgrave Macmillan
• | Publication Date: Feb 13, 2017
• | Number of Pages: 365 pages
• | Language: English
• | Binding: Hardcover/Business & Economics
• | ISBN-10: 1137394544
• | ISBN-13: 9781137394545