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