How did Iceland recover from its 2008 2009 Crisis What are the important lessons to draw from this case?

How did Iceland recover from its 2008 2009 Crisis What are the important lessons to draw from this case?

What are the important lessons to draw from this case? Iceland recovered from its 2008-2009 crises in the following ways: Investors, creditors and depositors outside the country lost money as the Iceland government felt that they should be penalized for their greed of earning extraordinary returns on investment.

What was the result of deregulation in Iceland?

Deregulation allowed banks, companies and individuals to borrow vast sums of money and this fictitious capital led to a massive boom. The Icelandic Central Bank gave up reserve requirements and tried to curb the rising inflation caused by the financial boom by increasing interest rates as high as 15%.

How did Iceland recover from the financial crisis?

In all, Iceland got $4.6 billion — $2.1 billion from the IMF and $2.5 billion from its Scandinavian neighbors.” Following the bailout, the IMF orchestrated a cleanup operation to revive the banks.

What did Iceland do when their banks failed?

“After the three biggest banks failed, the Financial Supervisory Authority took them over and put in Resolution Committees. These were obligated to have auditors go through the books and return a report to the Supervisory Authority. They were obligated to give us information of anything suspicious.

What is Takk?

Thank you in Norwegian You just say takk. That’s it. No need for the “you”, just say “thanks”: takk. Make sure to pronounce the a short, and the k long, because fint, takk means “fine, thanks”, but fint tak means “nice roof” (that was my best joke – hope you liked it).

How do you respond to tusen Takk?

The common answer to that would be “Bare hyggelig” – “Just nice (to help)” or “Ingen årsak” – “No reason (to thank for that)”. Tusen hjertelig takk! – “Thousand cordial thanks”.

What language is tusen Takk?

Norwegian

What is Mange Takk mean?

Thanks a lot

How do Vikings say thank you?

The interjection takk (“thank you”) and its derivations are more common. Takk is borrowed from Danish tak, itself inherited from Old Norse þǫkk, and is thus a cognate of þökk.