Meltdown Iceland
Lessons on the World Financial Crisis from a Small Bankrupt Island
by:
Roger Boyes
in:
Economics
Summary:
The book delves into the rapid economic rise and subsequent catastrophic financial collapse of Iceland in 2008, examining how the country's banking sector grew excessively and the impact of its failure on the global economy. It provides insights into the causes of the crisis, the lessons learned, and the implications for international financial systems.
Key points:
1. Iceland's financial crisis was partly due to its banks' rapid and risky expansion, which led to debt surpassing the country's GDP and eventually causing the banking system to collapse.
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