The Worst Case Scenario

Ásgeir Jónsson and Hersir Sigurgeirsson
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Ásgeir Jónsson: University of Iceland
Hersir Sigurgeirsson: University of Iceland

Chapter 2 in The Icelandic Financial Crisis, 2016, pp 35-66 from Palgrave Macmillan

Abstract: Abstract On Saturday, October 4, 2008, Prime Minister Geir Haarde withdrew from his official residence at Pond Street in Reykjavík, Iceland’s capital, an hour before midnight. Located in a serene setting by the pond at the center of the capital’s old town, the ministerial mansion had its beginnings in Iceland’s mountainous Westfjords. A gift from a Norwegian whaler to Iceland’s first prime minister at the start of the twentieth century, the mansion is a tall, wooden structure, ornamented with elaborate carvings on the outside and filled with many rooms. After being transported to Reykjavík, it came to house Iceland’s prime ministers until towards the end of World War II. Since then, its rooms have been used intermittently for important meetings and receptions. On this night, every room was occupied, and crowded.

Keywords: European Union; Gross Domestic Product; Prime Minister; Hedge Fund; Foreign Currency (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-39455-2_2

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DOI: 10.1057/978-1-137-39455-2_2

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