Screen LibraryThe Icelandic financial crisis : a study into the world's smallest currency area and its recovery from total banking collapse /
Saved in:
| Main Authors: | |
|---|---|
| Group Author: | |
| Published: |
Palgrave Macmillan,
|
| Publisher Address: | London, United Kingdom : |
| Publication Dates: | [2016] |
| Literature type: | Book |
| Language: | English |
| Series: |
Palgrave Macmillan studies in banking and financial institutions
|
| Subjects: | |
| Carrier Form: | xvi, 349 pages : illustrations ; 22 cm. |
| Bibliography: | Includes bibliographical references (pages 317-340) and index. |
| ISBN: |
9781137394545 1137394544 |
| Index Number: | HG3154 |
| CLC: | F835.355.9 |
| Call Number: | F835.355.9/A818 |
| Contents: | Introduction. Gala at Harpa ; One letter and six months? ; The unfinished business of 2011 ; Lessons learned? Lessons in banking ; Lessons in international finance ; The "appalling blank" -- The worst case scenario. Midnight at the mansion ; The botched bailout ; A rejection from the US Fed ; The WaMu way? ; The geyser warning ; A force majeure action ; God bless Iceland -- Reykjavik on the Thames. The problem with the banks' owners ; An act of terrorism? ; Will the payment system collapse? ; Reykjavik on the Thames ; Sound and fury -- Day zero. When the phones went silent ; How to value assets? ; How to partition the banks? ; A troubled childhood : the operation of the new banks ; Dealing with blame, shame and punishment -- Worthless currency? The transfer problem ; The Icesave debacle ; The carry trade hangover ; The current account and the capital controls ; The currency auctions ; The political fallout -- Meet the hedge funds. The Sir Philip moment ; Business at the old banks ; The asset base of the estates ; Hedge funds as bank owners ; What kind of resolution ; Asset return at composition ; Sharing the profits with the public -- The Faustian bargain of capital controls. Would you like to own a stake in Deutsche Bank AG? ; The operation of the controls ; The capital controls as a bargaining tool ; The carrot and stick approach ; The stability contributions ; The textbook case? -- Dealing with monetary pollution. What happens if you quadruple the money supply in four years? ; Doubling the money multiplier ; The love letters ; Helicopter drops and the Bernanke doctrine ; The different meaning of money in small currency areas ; Deposit funding as a currency risk ; The stability conditions -- A full recovery : fiscal cost of the crisis. To cut the link between the sovereign and banks ; Central Bank collateralized loans and Treasury securities lending ; Recapitalization of the commercial banks ; Recapitalization of the HFF and the savings banks ; The CBI loan to Kaupthing and state guarantees ; Special taxes and stability contributions of the estates ; Fiscal gains from the capital controls ; A net gain. |