What precisely occurred in Iceland that was, on the finish of 2008, the third richest nation on the earth to trigger it to be going through the full collapse of its monetary system? What brought on its banks to fail virtually in a single day? What occurred in order that in October 2008 Iceland turned the primary developed economic system to ask for assist from the Worldwide Financial Fund in additional than 30 years?
Often once we consider the Nice Recession of 2008, photos of Wall Avenue and the true property bubble come to thoughts. Nonetheless, the situation that unfolded on this island nestled within the icy waters of the North Atlantic was a very totally different expertise.
What we’re going to inform you on this video, which we have now made along with Worth Faculty, is the story of one of many greatest monetary bubbles of all occasions, the story of a rustic that, in just some years, went from being a spot recognized for fishing, geysers and volcanoes to changing into a world monetary middle. Are you able to accompany us to the chilly shores of the island often known as the land of fireplace and ice?
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