Managing the Crisis in Iceland and the Dishonesty of the International Community?
The 2008 global crisis hit hard in Iceland. During the crisis its three largest banks all collapsed in just a few days. This article focuses on the actions of the international community when the Icelandic authorities, during a period of great need and uncertainty, sought international assistance to protect the Icelandic economy before the banking system fell. Considering those actions is important because they had consequences not only for Iceland but also for the citizens of other countries. The article also reviews the response of the European Central Bank, the Federal Reserve as well actions of the Nordic countries which Iceland, as the smallest member of that group, sometimes naively tends to rely upon for support during difficult times. Was the international community dishonest in its response to Iceland?
Volume (Year): 15 (2014)
Issue (Month): 5 (December)
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- Hilmar Tór HILMARSSON, 2014. "Managing Financial Crisis: The Case of Iceland and Latvia," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(2), pages 200-214, May.
- Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications, The World Bank, number 6507, December.
- Hilmar Þór Hilmarsson, 2013. "Small states and big banks – the case of Iceland," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 13(1), pages 31-48, July.
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