Why Iceland?: How One of the World's Smallest Countries Became the Meltdown's Biggest Casualty
3/5
()
About this ebook
As late as the mid 1980s, Iceland’s economy revolved around little else than a semi-robust cod-fishing industry. By the end of the century, however, it had transformed itself into a major player in world finance, building an international banking empire worth twelve times its GDP. The tiny island nation of 300,000 was one of the global economy’s great success stories.
And then everything came crashing down.
Why Iceland? is the inside account of one of the economic meltdown’s most fascinating and far-reaching tragedies. As Chief Economist of Kaupthing Bank, the country’s largest bank before the collapse, Ásgeir Jónsson is perfectly suited to examine Iceland’s collapse in painstaking detail. He witnessed behind-the-scenes events firsthand, such as an intriguing meeting in January 2008 when a group of international hedge fund managers gathered in a bar in Reykjavik to discuss Iceland’s economy—an informal affair that eventually became the center of a criminal investigation by the country’s Financial Supervisory Authority.
This inside account examines the pressing issues behind history’s biggest banking collapse:
- How did Iceland transform itself from one of Europe’s poorest to one of its wealthiest countries?
- What happened to cause the destruction of the nation’s banking industry during a single week of October 2008?
- Was it the result of a speculation “attack” by hedge funds on the nation’s currency?
Iceland remains the biggest casualty of the economic downturn, and the ramifications of its catastrophic failure reach deeply into the economies of Europe, the United States, and other global markets. Ásgeir Jónsson offers a unique perspective and an expert’s insight into the rise and fall of this once-proud banking giant.
Why Iceland? provides the who, what, where, and when of Iceland’s demise, serving as a fascinating read and providing the understanding necessary for forecasting when and where the aftershocks will shake up markets in other parts of the world.
"Fearsome Vikings discovered Iceland. Hedge funds knocked it down. It was a humiliating tumble for the former financial powerhouse, which was proud of its status in Europe. A late bloomer, Iceland had been the last country in Europe to be settled, the Nordic nation rapidly caught up with its wealthier relations. It was all fine until October 2008, when country's banking system collapsed in a week. Written by an Icelandic economist, Why Iceland? chronicles the meltdown, in the context of the nation's history."--New York Post (A "Required Reading" Selection)
Related to Why Iceland?
Related ebooks
The Life of Richard Cadbury: Socialist, Philanthropist & Chocolatier Rating: 0 out of 5 stars0 ratingsAlmost Hemingway: The Adventures of Negley Farson, Foreign Correspondent Rating: 0 out of 5 stars0 ratingsWho Wants to Be a Billionaire?: The James Packer Story Rating: 3 out of 5 stars3/5The Canadian Home: From Cave to Electronic Cocoon Rating: 0 out of 5 stars0 ratingsWaterloo in 100 Objects Rating: 4 out of 5 stars4/5Bond Rating: 4 out of 5 stars4/5The Story of the Typewriter, 1873-1923 Rating: 0 out of 5 stars0 ratingsDalton McGuinty: Making a Difference Rating: 0 out of 5 stars0 ratingsIberia Chronicles: A History of Spanish and Portuguese Football Rating: 0 out of 5 stars0 ratingsOne's Company - A Journey to China Rating: 3 out of 5 stars3/5The Inspector General Rating: 0 out of 5 stars0 ratingsThe Sages of Chelm and the Moon Rating: 3 out of 5 stars3/5The Reluctant Billionaire: The Tragic Life of Gerald Grosvenor, Sixth Duke of Westminster Rating: 0 out of 5 stars0 ratings2022 London Restaurants: The Food Enthusiast’s Long Weekend Guide Rating: 0 out of 5 stars0 ratings1 Pill = 28 Years Rating: 0 out of 5 stars0 ratingsThe Picky Eagle: How Democracy and Xenophobia Limited U.S. Territorial Expansion Rating: 0 out of 5 stars0 ratingsThe Golden Age of Pinehurst: The Story of the Rebirth of No. 2 Rating: 0 out of 5 stars0 ratingsKing of X Rating: 0 out of 5 stars0 ratingsTarget: A Scapegoat's Guide to the Federal Justice System Rating: 0 out of 5 stars0 ratingsBrothers: On His Brothers and Brothers in History Rating: 4 out of 5 stars4/5Bobby on the Beat: Memoirs of a London Policeman in the 1960s Rating: 0 out of 5 stars0 ratingsRobber Baron: Lord Black of Crossharbour Rating: 0 out of 5 stars0 ratingsGodfather of the Revolution: The Life of Philippe Égalité, Duc D'Orléans Rating: 4 out of 5 stars4/5Big Men Fear Me Rating: 0 out of 5 stars0 ratingsZero-Sum Game: The Rise of the World's Largest Derivatives Exchange Rating: 4 out of 5 stars4/5Fictional London: A Guide to the Capital’s Literary Landmarks Rating: 0 out of 5 stars0 ratingsThe Mosaic Effect: How the Chinese Communist Party Started a Hybrid War in America’s Backyard Rating: 0 out of 5 stars0 ratingsAugust in Paris: And other travel misadventures Rating: 0 out of 5 stars0 ratingsCape Cod: The Delaplaine 2020 Long Weekend Guide Rating: 0 out of 5 stars0 ratings
Training For You
Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5How To Buy A Business With No Money Rating: 4 out of 5 stars4/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5The Millionaire Real Estate Investor Rating: 5 out of 5 stars5/5Electronic Shorthand: An Easy-To-Learn Method Of Rapid Digital Note-Taking Rating: 5 out of 5 stars5/5Positioning: The Battle for Your Mind Rating: 4 out of 5 stars4/5The Everything Grant Writing Book: Create the perfect proposal to raise the funds you need Rating: 5 out of 5 stars5/5Administrative Assistant's and Secretary's Handbook Rating: 4 out of 5 stars4/5The Everything Career Tests Book: 10 Tests to Determine the Right Occupation for You Rating: 0 out of 5 stars0 ratingsMean Girls at Work: How to Stay Professional When Things Get Personal Rating: 3 out of 5 stars3/5You Can't Lie to Me: The Revolutionary Program to Supercharge Your Inner Lie Detector and Get to the Truth Rating: 4 out of 5 stars4/5SECURITIES INDUSTRY ESSENTIALS EXAM STUDY GUIDE 2022 + TEST BANK Rating: 5 out of 5 stars5/5Finding Your Focus: Practical strategies for the everyday challenges facing adults with ADD Rating: 5 out of 5 stars5/5Wooden on Leadership: How to Create a Winning Organizaion Rating: 5 out of 5 stars5/5Make Every Man Want You: or Make Yours Want You More) Rating: 4 out of 5 stars4/5Perfect Phrases for Letters of Recommendation Rating: 5 out of 5 stars5/5The Job Interview Phrase Book: The Things to Say to Get You the Job You Want Rating: 4 out of 5 stars4/5How to Make Money in Stocks Complete Investing System (EBOOK) Rating: 4 out of 5 stars4/5The Insulin-Resistance Diet--Revised and Updated: How to Turn Off Your Body's Fat-Making Machine Rating: 3 out of 5 stars3/5Beat Burnout: Overcome Exhaustion, Minimize Stress, and Take Back Your Life in 30 Days: 30 Day Expert Series Rating: 5 out of 5 stars5/5Investing and the Irrational Mind: Rethink Risk, Outwit Optimism, and Seize Opportunities Others Miss Rating: 4 out of 5 stars4/5
Reviews for Why Iceland?
3 ratings0 reviews