期刊名称：IoES Working Paper Series / Institute of Economic Studies, University of Iceland
出版年度：2009
卷号：2009
出版社：niversity of Iceland
摘要：Iceland’s banking system collapsed in October 2008. The collapse coincided with a
full-fledged currency crisis and the insolvency of large segments of its business sector.
The collapse of Iceland’s economy is a testimony of the combined effects of
deregulation, privatization and lax financial supervision in a world of cheap credit.
The systemic collapse of a developed country presents a unique case study for future
reference. Moreover, the collapse offers some insights into the feasibility of small
countries joining a much larger economic area without reforming its institutions and
integrating them into a larger institutional framework. In the EU context, the lesson
appears to be that a single market and a monetary union are complementary. Also that
cross-border banking practices raise a host of regulatory issues, as well as issues that
have to do with deposit insurance.
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