Home » How Iceland's Bankers Plunged Their Country Into Financial Chaos financial crisis 2008 explained

How Iceland's Bankers Plunged Their Country Into Financial Chaos financial crisis 2008 explained

by mytholimytholi



Hook, Line and Sunk (2009): Have the lessons of Iceland’s financial collapse been learnt?

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How Iceland Became A Symbol Of The 2008 Financial Crisis

The Small Norwegian Town Struggling to Cope After the Global Financial Crisis

Does Iceland Have a Future in the Whaling Industry?

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Dubbed the ‘New Vikings’, Iceland’s bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.

Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: ??”I’??m going to lose my flat. I??’m going to get bankrupt. All because of the way things were handled here.??” Turning a blind eye, the government let banks grow ten times the size of the country’??s GDP. Very little profits were made from actual banking. “Banks only grew by spending other people??’s money, especially that of the British. ??It’??s one of the greatest Ponzi schemes in history,” says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: ??”If we don’t make some quite serious structural changes we are just setting the conditions for a repeat crisis.??”

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27 comments

indowntime1966 13/09/2021 - 2:21 Chiều

🤓👍

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Segasys 13/09/2021 - 2:21 Chiều

The Michael Lewis Vanity Fair piece on Iceland's fishermen bankers has much more meat in it. Well worth the read.

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Gauti Bergmann 13/09/2021 - 2:21 Chiều

no lessons have been learned…….we are still drowning in curruption

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Chan Xavier 13/09/2021 - 2:21 Chiều

Ja Ja ding dong!

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Kiki 13/09/2021 - 2:21 Chiều

Bjork and THREE Miss Worlds…. yeah that’s a lot!😉

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gwd109 13/09/2021 - 2:21 Chiều

Iceland, Norway or Sweden should win Miss World pretty much every year. But because it is fixed, they don't

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t s 13/09/2021 - 2:21 Chiều

Throw paint on their houses everyday

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t s 13/09/2021 - 2:21 Chiều

Just ignore, make your own currency

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t s 13/09/2021 - 2:21 Chiều

Just make your own rules, ignore the imf, world bank and make your own new government.

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t s 13/09/2021 - 2:21 Chiều

Start growing your own food, be self sufficient and arm yourself. Its your country.

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t s 13/09/2021 - 2:21 Chiều

Sure they do, just ignore the politicians and keep your country. That easy, dont be taken for a ride. Ignore what the msm says

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Ard Sley 13/09/2021 - 2:21 Chiều

Tony shearer the merchant banker died at 68

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Pashmina Golden 13/09/2021 - 2:21 Chiều

CCNOW a e commerce payment gateway, a islandic company ripped me of 40000 USD by its owners Bjorn Snorrison Of Dalvic city , never thought a payment gateway could do it, its a shock , person getting 5% of sale from a website could rob ypou of all your money ? he has disgraced e commerce
business with his attitude, he should come clean and let his clients know the exact situation , instead of hiding . Icelanders are nordic tribe , warriors but he has brought shame to the country and his people and his heritage of Snorri Snorrson his father,Any law firm in iceland can get me the ammount , please contact me?

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Coletha Albert 13/09/2021 - 2:21 Chiều

So what America is straining for is total Failure.

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david trott 13/09/2021 - 2:21 Chiều

Oh fair play Icelanders

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Lisa Skvisa 13/09/2021 - 2:21 Chiều

Sounds like Westminster and the Tories!

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Ken Rose 13/09/2021 - 2:21 Chiều

Why the media never talked about Iceland

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Hörður Heimisson 13/09/2021 - 2:21 Chiều

9:48 This guy is now our president… 😀

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Kinnish 13/09/2021 - 2:21 Chiều

GLOBALIZATION IS A LEFT WING GOVERNMENT'S WET DREAM. RIGHT WINGERS ARE FIGHTING GLOBALIZATION LIKE TRUMP FIGHTING IMMIGRATION AND CHINA

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Tulsatom Bob 13/09/2021 - 2:21 Chiều

Congrats to the Icelanders for booting the Banksters in the ass. Now in 2018, I read where there is another Jew digging in, opening Jewish Enrichment Centers and most likely has plans to grow the Jewish Community to take over Iceland, once again. Banksters need to be executed where ever they try to destroy and control foreign nations when uninvited. Citizens of Iceland should outlaw any foreign meddling in their policies and laws that promote Cultural Diversity by outside influenced Jewish or Muslim Agendas.

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Reub3 13/09/2021 - 2:21 Chiều

Why can't they learn from other great success stories like in Europe. The answer to the problem is some of that "diversity" to culturally enrich their society and economy. Clearly Germany and Sweden are doing wonderfully. Just follow their example lol jk.

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Moose Bme 13/09/2021 - 2:21 Chiều

Playing on greed to feed ones on greed… is a Poncy Scheme's "main blood line!" Sad :(.
"How the banks took over Iceland," IS how the banks are taking over the WORLD backing government and military… slavery never dies… with the illusion of "choice!"
WELL SAID on the end (keep it simple) and GREAT video :)! (GOOD LUCK and BEST WISHES to ALL… Viva De ICELAND :)!

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Milo Savage 13/09/2021 - 2:21 Chiều

where was the government central bank that supposed to regulate them. so it is regulatory failure which is government responsibility

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Barbara Lockhart 13/09/2021 - 2:21 Chiều

Iceland is beautiful.I want to go.

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Ned 13/09/2021 - 2:21 Chiều

Have Icelanders learned anything? I'll wager that within the decade they'll be voting into government these same greasy conservatives that were in power in 2006 and either aided and abetted the fraud, or simply looked the other way while it happened.

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John Hetherington 13/09/2021 - 2:21 Chiều

BANKERS IN THE USA are at it again and we will have to bail them out AGAIN
corrupt politicians and LOBBYISTS run the place

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Vlaid65 13/09/2021 - 2:21 Chiều

Post script: And their "representatives" were run out of town. And their bankers who caused so much damage were jailed. It's not just the economy, stupid.

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