A Full Recovery: Fiscal Cost of the Crisis

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

Chapter 9 in The Icelandic Financial Crisis, 2016, pp 289-316 from Palgrave Macmillan

Abstract: Abstract At 11:19 p.m. on Monday, October 6, 2008, the Icelandic authorities attempted to cut the link between the banks and the sovereign by passing the Emergency Act into law. This was an application of force majeure rights as a means to amend laws affecting the financial institutions.

Keywords: Gross Domestic Product; International Monetary Fund; Commercial Bank; Saving Bank; Financial Service Authority (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_9

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DOI: 10.1057/978-1-137-39455-2_9

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