How did Iceland clean up its banks?
Posted: Thu Feb 11, 2016 8:45 am
How did Iceland clean up its banks?

The 2008 global financial crisis hit Iceland hard. The currency crashed, unemployment soared and the stock market was more or less wiped out. But unlike other Western economies, the Icelandic government let its three major banks - Kaupthing, Glitnir and Landsbankinn - fail and went after reckless bankers. Many senior executives have been jailed and the country's ex-prime minister Geir Haarde was also put on trial, becoming the first world leader to face criminal prosecution arising from the turmoil. although he was subsequently cleared of negligence. So what can - or should - other countries learn from how Iceland responded?
http://www.bbc.com/news/business-35485876

The 2008 global financial crisis hit Iceland hard. The currency crashed, unemployment soared and the stock market was more or less wiped out. But unlike other Western economies, the Icelandic government let its three major banks - Kaupthing, Glitnir and Landsbankinn - fail and went after reckless bankers. Many senior executives have been jailed and the country's ex-prime minister Geir Haarde was also put on trial, becoming the first world leader to face criminal prosecution arising from the turmoil. although he was subsequently cleared of negligence. So what can - or should - other countries learn from how Iceland responded?
http://www.bbc.com/news/business-35485876