The Icelandic Financial Crisis

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The Icelandic Financial Crisis

Ásgeir Jónsson,Hersir Sigurgeirsson
The Icelandic Financial Crisis Book PDF

Author : Ásgeir Jónsson,Hersir Sigurgeirsson
Publisher : Springer
Page : 349 pages
File Size : 54,7 Mb
Release : 2017-02-02
Category : Business & Economics
ISBN : 9781137394552

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The Icelandic Financial Crisis by Ásgeir Jónsson,Hersir Sigurgeirsson Pdf

This book presents a detailed account of Iceland’s recovery from the tumultuous banking collapse that overturned its financial industry in 2008. Early chapters recount how Iceland’s 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 “socialization of losses”. 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 ‘canary in the coal mine’ 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 Iceland’s banking crisis and the phenomena of its recovery.

Preludes to the Icelandic Financial Crisis

R. Aliber,G. Zoega
Preludes to the Icelandic Financial Crisis Book PDF

Author : R. Aliber,G. Zoega
Publisher : Springer
Page : 357 pages
File Size : 54,6 Mb
Release : 2011-01-19
Category : Business & Economics
ISBN : 9780230307148

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Preludes to the Icelandic Financial Crisis by R. Aliber,G. Zoega Pdf

Iceland became one of the symbols of the global financial crisis. It provides an ideal test case for the perceptions of economists, in particular their ability to anticipate crises. The book contains papers and reports, written prior to the collapse of Iceland's financial system, about the economy. What did and didn't they see coming, and why?

Iceland's Financial Crisis

Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir
Iceland s Financial Crisis Book PDF

Author : Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir
Publisher : Routledge
Page : 328 pages
File Size : 45,7 Mb
Release : 2016-07-01
Category : Political Science
ISBN : 9781317209737

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Iceland's Financial Crisis by Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir Pdf

Being the first casualty of the international financial crisis, Iceland was, in many ways, turned into a laboratory when it came to responding to one of the largest corporate failures on record. This edited volume offers the most wide-ranging treatment of the Icelandic financial crisis and its political, economic, social, and constitutional consequences. Interdisciplinary, with contributions from historians, economists, sociologists, legal scholars, political scientists and philosophers, it also compares and contrasts the Icelandic experience with other national and global crises. It examines the economic magnitude of the crisis, the social and political responses, and the unique transitional justice mechanisms used to deal with it. It looks at backward-looking elements, including a societal and legal reckoning – which included the indictment of a Prime Minister and jailing of leading bankers for their part in the financial crisis – and forward-looking features, such as an attempt to rewrite the Icelandic constitution. Throughout, it underscores the contemporary relevance of the Icelandic case. While the Icelandic economic recovery has been much quicker than expected; it shows that public faith in political elites has not been restored. This text will be of key interest to scholars, policy-makers and students of the financial crisis in such fields as European politics, international political economy, comparative politics, sociology, economics, contemporary history, and more broadly the social sciences and humanities.

Iceland’s Financial Crisis

Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir
Iceland s Financial Crisis Book PDF

Author : Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir
Publisher : Routledge
Page : 278 pages
File Size : 44,9 Mb
Release : 2016-07-01
Category : Political Science
ISBN : 9781317209744

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Iceland’s Financial Crisis by Valur Ingimundarson,Philippe Urfalino,Irma Erlingsdóttir Pdf

Being the first casualty of the international financial crisis, Iceland was, in many ways, turned into a laboratory when it came to responding to one of the largest corporate failures on record. This edited volume offers the most wide-ranging treatment of the Icelandic financial crisis and its political, economic, social, and constitutional consequences. Interdisciplinary, with contributions from historians, economists, sociologists, legal scholars, political scientists and philosophers, it also compares and contrasts the Icelandic experience with other national and global crises. It examines the economic magnitude of the crisis, the social and political responses, and the unique transitional justice mechanisms used to deal with it. It looks at backward-looking elements, including a societal and legal reckoning – which included the indictment of a Prime Minister and jailing of leading bankers for their part in the financial crisis – and forward-looking features, such as an attempt to rewrite the Icelandic constitution. Throughout, it underscores the contemporary relevance of the Icelandic case. While the Icelandic economic recovery has been much quicker than expected; it shows that public faith in political elites has not been restored. This text will be of key interest to scholars, policy-makers and students of the financial crisis in such fields as European politics, international political economy, comparative politics, sociology, economics, contemporary history, and more broadly the social sciences and humanities.

Iceland and the International Financial Crisis

Eirikur Bergmann
Iceland and the International Financial Crisis Book PDF

Author : Eirikur Bergmann
Publisher : Springer
Page : 211 pages
File Size : 52,9 Mb
Release : 2014-01-30
Category : Political Science
ISBN : 9781137332004

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Iceland and the International Financial Crisis by Eirikur Bergmann Pdf

Eirikur Bergmann explains the exceptional case of Iceland's fantastical boom, bust and rapid recovery after the Crash of 2008 and explores the lessons for the wider EU crisis and for over-reaching economies that over-rely on financial markets.

The Return of Trust?

Throstur Olaf Sigurjonsson,David L. Schwarzkopf,Murray Bryant
The Return of Trust Book PDF

Author : Throstur Olaf Sigurjonsson,David L. Schwarzkopf,Murray Bryant
Publisher : Emerald Group Publishing
Page : 296 pages
File Size : 52,8 Mb
Release : 2018-08-06
Category : Business & Economics
ISBN : 9781787433472

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The Return of Trust? by Throstur Olaf Sigurjonsson,David L. Schwarzkopf,Murray Bryant Pdf

This book examines the efforts of major Icelandic economic institutions to regain the public’s trust, 10 years after the financial crisis that ruined personal savings and fostered anger towards business and politics. The studies collected here provide insights into restoring relationships between communities and institutions.

Meltdown Iceland

Roger Boyes
Meltdown Iceland Book PDF

Author : Roger Boyes
Publisher : Bloomsbury Publishing USA
Page : 257 pages
File Size : 42,8 Mb
Release : 2009-10-06
Category : Business & Economics
ISBN : 9781608191987

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Meltdown Iceland by Roger Boyes Pdf

The economic crisis that emerged in America in 2008 unleashed a veritable epidemic of ill health around the world. However it was Iceland, whose population of three hundred thousand had the world's highest GDP per capita and counted itself the happiest of countries, that caught the worst cold. It has nearly killed them. No story from the economic crisis of 2008 is more evocative than I celand's. The names may be unfamiliar-Johanesson, Bjoergolfsson, Oddsson-but their exuberance, greed, and miscalculation have many counterparts on our shores. And however traumatic the collapse of individual companies may be in the United States, in Iceland's case an entire country melted down. All the wealth accumulated in the previous decade-during which a new breed of Icelanders had dared to believe they could compete economically on an international level, during which Reykjavik became the Capital of Cool-disappeared practically overnight. Iceland's story shows how closely the world economy is interconnected: The default on subprime mortgages in the U .S. led to the collapse of Lehman Brothers, which led directly to the run on Iceland's banks, which forced local authorities in Britain to switch off the heating in their classrooms. With panache and color, Roger Boyes tells the inside story of the bankrupting of I celand: how it happened, the human dramas-from politicians to financiers to fishermen-that continue to swirl around it, and the lessons we can not ignore. Published on the first anniversary of its collapse, Meltdown Iceland is a cautionary tale for our times, an authoritative and compelling account of the financial destruction of a tiny country whose saga should resonate for us all.

The End of Iceland's Innocence

Daniel Chartier
The End of Iceland s Innocence Book PDF

Author : Daniel Chartier
Publisher : University of Ottawa Press
Page : 241 pages
File Size : 50,9 Mb
Release : 2011
Category : Business & Economics
ISBN : 9780776607603

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The End of Iceland's Innocence by Daniel Chartier Pdf

A portrait of Iceland through the eyes of the international media before and after their total economic collapse. In the space of a few days, one of the world's richest and most egalitarian nations, Iceland, toppled into financial chaos and sunk into an economic, ethical, moral and identity crisis. The vast empire built by Iceland's young entrepreneurs, the "new Vikings"--who had propelled the country to the top of wealth, equality and happiness charts--collapsed under the combined effect of the failure of its banks and astronomical debt (more than ten times the country's gross domestic product). Iceland became, in the midst of the global economic crisis, an icon of disaster that troubles all Western countries seeking to understand how the Scandinavian model could collapse so suddenly. In this book, Daniel Chartier traces, through thousands of articles appearing in the foreign press, the fascinating reversal of Iceland's image during the crisis. Citizens of a country now humiliated, Icelanders must deal with a number of significant issues including the quest for wealth, sovereignty, ethics, responsibility, gender and the limits of neoliberalism. Published in English.

Meltdown Iceland

Roger Boyes
Meltdown Iceland Book PDF

Author : Roger Boyes
Publisher : Bloomsbury Publishing USA
Page : 257 pages
File Size : 43,8 Mb
Release : 2009-09-29
Category : Business & Economics
ISBN : 9781608190188

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Meltdown Iceland by Roger Boyes Pdf

Presents an account of the total financial breakdown of the entire country of Iceland in the wake of the 2008 global economic crisis, citing the actions of key contributors while offering additional insight into the interconnected nature of the global crisis.

Meltdown Iceland

Roger Boyes
Meltdown Iceland Book PDF

Author : Roger Boyes
Publisher : A&C Black
Page : 280 pages
File Size : 46,8 Mb
Release : 2010-02-15
Category : Business & Economics
ISBN : 9781408810804

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Meltdown Iceland by Roger Boyes Pdf

It is a truism that when America sneezes, Europe catches a cold. The subprime mortgage crisis, which began in America in 2007, unleashed a veritable epidemic of financial ill health all over the world. All European countries were affected, and the developing world also felt a chill. However it was Iceland, a tiny volcanic outcrop in the North Atlantic whose population of 300,000 had the highest GDP and counted itself the happiest in the world, which caught the worst cold. It has nearly killed them. For a few short years, the Icelanders deluded themselves that they were rich. Dour Reykjavik became the Capital of Cool. Rock musicians like Damon Albarn bought houses and stakes in pubs. Clubs boomed, the alcohol was expensive and the Krona was strong. All over the world people are trying to understand what caused the economic crisis and are asking themselves who is to blame. In Iceland that question is easily answered and the handful of bankers and politicians responsible have had to hire body guards, hole themselves up in their country houses and stay off the streets for fear of attack. Collaborating with the business editor of Iceland's leading daily newspaper, award-winning writer Roger Boyes tells the inside story of the bankrupting of Iceland and explains how it has ramifications for us all, from the private and public investors who trusted their money in Iceland's banks, to the workers in high street clothes stores whose owners no longer can pay for the shirts on their own backs. Writing with panache and colour, and drawing on interviews with everyone from artists and policitians to the local fisherman, Meltdown Iceland is an authoritative and compelling account of the financial destruction of this tiny, icy but vibrant country.

The 2008 Global Financial Crisis in Retrospect

Robert Z. Aliber,Gylfi Zoega
The 2008 Global Financial Crisis in Retrospect Book PDF

Author : Robert Z. Aliber,Gylfi Zoega
Publisher : Springer
Page : 443 pages
File Size : 41,5 Mb
Release : 2019-06-01
Category : Business & Economics
ISBN : 9783030123956

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The 2008 Global Financial Crisis in Retrospect by Robert Z. Aliber,Gylfi Zoega Pdf

This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.

Economic Crisis and Mass Protest

Jon Gunnar Bernburg
Economic Crisis and Mass Protest Book PDF

Author : Jon Gunnar Bernburg
Publisher : Routledge
Page : 164 pages
File Size : 47,9 Mb
Release : 2016-06-03
Category : Business & Economics
ISBN : 9781317146261

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Economic Crisis and Mass Protest by Jon Gunnar Bernburg Pdf

Although the triggering effect of economic crises on revolt is a classic sociological topic, crises have until recently mostly triggered large-scale collective action in developing countries. The antigovernment protests that occurred in several European countries in the aftermath of the global financial crisis brought crises to the forefront of collective action research in democratic societies, as well as provide important opportunities for studying how crises can trigger large-scale collective action. This volume focusses on Iceland’s ’Pots and Pans Revolution’, a series of large scale antigovernment protests and riots that took place in Iceland in autumn 2008 and January 2009. The Icelandic case offers a rare opportunity to study processes that can trigger political protest in an affluent, democratic society. The protests took place in the aftermath of a national financial collapse triggered by the global financial crisis in early October 2008. While having almost no tradition of mass protest, Iceland was among the first countries to respond to the global crisis with large-scale protest. The level of public mobilization was exceptionally high (about 25 percent participation rate) and the protests did not stop until they had brought down the ruling government of Iceland. Using qualitative and quantitative data, this volume situates the protest in historical-cultural context and applies social movement theory to explore how the economic crisis ended up triggering the protests, thus providing a step toward understanding why the global financial crisis has triggered public unrest in other countries.

Gambling Debt

E. Paul Durrenberger,Gisli Palsson
Gambling Debt Book PDF

Author : E. Paul Durrenberger,Gisli Palsson
Publisher : University Press of Colorado
Page : 341 pages
File Size : 46,7 Mb
Release : 2014-12-04
Category : Social Science
ISBN : 9781457188497

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Gambling Debt by E. Paul Durrenberger,Gisli Palsson Pdf

Gambling Debt is a game-changing contribution to the discussion of economic crises and neoliberal financial systems and strategies. Iceland’s 2008 financial collapse was the first case in a series of meltdowns, a warning of danger in the global order. This full-scale anthropology of financialization and the economic crisis broadly discusses this momentous bubble and burst and places it in theoretical, anthropological, and global historical context through descriptions of the complex developments leading to it and the larger social and cultural implications and consequences. Chapters from anthropologists, sociologists, historians, economists, and key local participants focus on the neoliberal policies—mainly the privatization of banks and fishery resources—that concentrated wealth among a select few, skewed the distribution of capital in a way that Iceland had never experienced before, and plunged the country into a full-scale economic crisis. Gambling Debt significantly raises the level of understanding and debate on the issues relevant to financial crises, painting a portrait of the meltdown from many points of view—from bankers to schoolchildren, from fishers in coastal villages to the urban poor and immigrants, and from artists to philosophers and other intellectuals. This book is for anyone interested in financial troubles and neoliberal politics as well as students and scholars of anthropology, sociology, economics, philosophy, political science, business, and ethics. Publication supported in part by the National Science Foundation.

Iceland 2008. From a Banking Crisis to a Sovereign Debt Crisis

Malte Vieth
Iceland 2008 From a Banking Crisis to a Sovereign Debt Crisis Book PDF

Author : Malte Vieth
Publisher : GRIN Verlag
Page : 21 pages
File Size : 42,6 Mb
Release : 2014-04-08
Category : Business & Economics
ISBN : 9783656632542

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Iceland 2008. From a Banking Crisis to a Sovereign Debt Crisis by Malte Vieth Pdf

Seminar paper from the year 2012 in the subject Economics - Finance, grade: 2,3, Johannes Gutenberg University Mainz, course: Seminar Financial Institutions, language: English, abstract: During the current financial crisis which started in the year 2007 with the bust of the American housing market and peaked with the collapse of Lehman Brothers we observe that many countries face difficulties with their domestic banking system. For instance Germany had problems with several Landesbanken, the Hypo Real Estate (HRE) and with Commerzbank or the United States struggled with the collapse of Merrill Lynch and Bear Stearns leading to an enforced merger with Bank of America and JP Morgan Chase respectively. In other countries problems in the banking system were more dramatic. After rumors in the United Kingdom about a collapse of Northern Rock people went immediately to the branches to withdraw their deposits. The picture spread the world when people waited outside in a queue of a branch of Northern Rock to get inside. To prevent a domestic bank run in the United Kingdom the government nationalized several financial institutions such as Royal Bank of Scotland; afterwards holding a stake of 95% in this particular institution. Nowadays Spain faces a huge banking crisis after the bust of the Iberian housing bubble. But what is the problem of having a banking crisis?

Útrásarvíkingar!

Alaric Hall
tr sarv kingar Book PDF

Author : Alaric Hall
Publisher : punctum books
Page : 395 pages
File Size : 47,7 Mb
Release : 2020
Category : Literary Criticism
ISBN : 9781950192694

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Útrásarvíkingar! by Alaric Hall Pdf

As the global banking boom of the early twenty-first century expanded towards implosion, Icelandic media began calling the country's celebrity financiers útrásarvíkingar: “raiding vikings.” This new coinage encapsulated the macho, medievalist nationalism which underwrote Iceland's exponential financialisation. Yet within a few days in October 2008, Iceland saw all its main banks collapse beneath debts worth nearly ten times the country's GDP.Hall charts how Icelandic novelists and poets grappled with the Crash over the ensuing decade. As the first English-language monograph devoted to twenty-first-century Icelandic literature, it provides Anglophone readers with an introduction to one of the world's liveliest literary scenes. It also contributes a key case study for understanding global artistic responses to the early twenty-first century crisis of runaway, unregulated capitalism, exploring the struggles of writers to adapt realist forms of art to surreal times.As Iceland's biggest crisis since their independence from Denmark in 1944, the effect of the Crash on the national self-image was as seismic as its effects on the economy. This study analyses the centrality of whiteness and the abjection of the “developing world” in Iceland's post-colonial identity, and shows how Crash-writing explores the collisions of Iceland's traditional, nationalist medievalism with a dystopian, Orientalist medievalism associated with the Islamic world.The Crash in Iceland was instantly recognised as offering important economic insights. This book shows how Iceland also helps us to understand the cultural convulsions that have followed the Financial Crisis widely in the West.