Government failures in Iceland: Entranced by banking. Jon Danielsson.

Government failures in Iceland: Entranced by banking

February 9, 2009
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.

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