Iceland’s banking saga reverberates five years on

In October 2008, Iceland became the first advanced economy to suffer a systemic banking collapse. As Ásgeir Jónsson notes, five years on the European banking system remains fundamentally flawed.

The related hyperlink from SOI reports that in 2008, Iceland experienced one of the most dramatic crashes any country had ever seen. Since then, its recovery has been just as impressive. Are there lessons to be learned? SPIEGEL went to the island nation to find out.

• Primary Source

ESO: Background information: Iceland wins court case against UK, Dutch savers http://www.europeansources.info/record/iceland-wins-court-case-against-uk-dutch-savers/

Spiegel Online International, 10.01.14: Out of the Abyss: Looking for Lessons in Iceland's Recovery http://www.spiegel.de/international/europe/financial-recovery-of-iceland-a-case-worth-studying-a-942387.html

The New York Times, 15.01.14: After Crisis, Iceland Holds a Tight Grip on Its Banks http://dealbook.nytimes.com/2014/01/15/after-crisis-iceland-holds-a-tight-grip-on-its-banks/

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