crisis of October 2008, when all three major banks in Iceland collapsed in three successive days. The country is still … of Iceland (CBI) saw the systemic risks created by lending to owners and related parties, which increased greatly from … countries had the resources to bail out their irresponsible and illiquid banks, Iceland did not, and it received little foreign …

The global financial and economic crisis has struck Iceland with extreme force. Iceland’s three main banks, accounting … in Iceland than in most other OECD countries owing to the seriousness of the banking crisis and the weakness of private … the 2009 Economic Survey of Iceland. …