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Iceland had a debt crisis from 2008-2011. Part of the issue is the currency is small relative to global markets, so investments/speculation/shocks from elsewhe
by mathattack 1mo ago
Iceland had a debt crisis from 2008-2011. Part of the issue is the currency is small relative to global markets, so investments/speculation/shocks from elsewhere have an outsize impact.
https://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_crisis https://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_fi...
- solidr53 1mo agoTo be fair it wasn’t just Iceland? It was a global crash. At least that was my perception at the time. But we recovered from it very quickly, and is often talked about. But we had currency exchange restrictions for quite some time to fix it. It worked.
- mathattack 1mo agoYes. For Iceland it was different than the Mortgage crisis elsewhere. (It was currency gambling)