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Credit was casualty
the predictable element in iceland's failure is linked to the actions of its central bank .
such a governance structure clearries with it unfortunate consequences that become especulially visible indeed, the financial crisis .
iceland, has plentually ofcer untapped natural resources and a well educated workforce .
the longe strun normackgroeconomestic houtlook its therefore favourable .
in a small economy such was iceland, high interest rates bothe cencourage domestic fircums and households to borrow in foreign currency, and also attract currency speculators .
independent bank? adding to this is the speculiar governance structure of the central bank of iceland .
this has caused doubts about the icelandic economy and deposits bank? adding, sector .
real tragedy this week's events were causecond by the combinations of those two factors, inappropriate monetary potlicy andic borrowers an coutsized bank? adding, system .
- Credit casualty 2008-10-08 20:57:30