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Why Iceland?: How One of the World's Smallest Countries Became the Meltdown's Biggest Casualty

Why Iceland?: How One of the World's Smallest Countries Became the Meltdown's Biggest Casualty
Author: Asgeir Jonsson
ISBN 13: 9780071632843
ISBN 10: 71632840
Edition: 1
Publisher: McGraw-Hill Education
Publication Date: 2009-08-03
Format: Hardcover
Pages: 224
List Price: $38.00

The Saga of an Empire that Disappeared Overnight

In October 2008, Iceland became the unlikely epicenter of the catastrophic

global banking collapse. In a few short years the tiny nation on the periphery of

Europe had built a banking empire to rival any other on the planet. Then, within

a single week in October 2008, the entire country collapsed. Investors in the UK

alone are believed to have lost £8 billion in the fallout. And that’s just the tip of the

iceberg. Effects of the crisis continue to manifest themselves around the globe.

Why Iceland? provides the most thorough and insightful account to date of history’s

greatest banking collapse. Written by Icelandic banking insider Ásgeir

Jónsson, this behind-the-scenes book covers:

  • Iceland’s remarkable rise as a global financial powerhouse
  • Events leading to its overnight collapse
  • The critical roles played by the US and UK

    future effects on the global economy

As Iceland’s banking industry attempts to rebuild itself, with help from the IMF,

the world’s markets brace themselves against as-yet unknown impacts sure to

result from the collapse. Why Iceland? combines the drama of a potboiler novel

with expert analysis from a world authority on the subject.

Ásgeir Jónsson is head of research and chief

economist at Kaupthing Bank, the biggest bank in

Iceland until the nation’s banking collapse. He previously

served as assistant professor of banking

and international finance at the University of

Iceland. Jónsson is the author of several books

about the economy and history of Iceland.

The New York Times

"A provocative, urgently important case study in international finance."