Government failures in Iceland: Entranced by banking

Iceland

Some view Iceland's crisis as holding lessons for any country with an outsized financial sector, e.g. the UK. This column disagrees, arguing that Iceland's downfall is explained by the way its unique history, inappropriate policy responses, and weaknesses in EU banking regulations created a perfect storm, unlikely to happen elsewhere.


Models and risk | Financial Regulation, Systemic Risk, Stability and AI

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