Başlık:
Icelandic financial crisis : a study into the world's smallest currency area and its recovery from... total banking collapse.
Yazar:
Ásgeir Jónsson.
ISBN:
9781137394545
Yazar Ek Girişi:
Yayım Bilgisi:
London : Palgrave Macmillan, 2016.
Fiziksel Tanımlama:
xvi; 349 pages 22cm.
Seri:
Palgrave Macmillan studies in banking and financial institutions
İçerik:
List of Figures; List of Tables; 1: Introduction; 1.1 Gala at Harpa; 1.2 One Letter and Six Months?; 1.3 The Unfinished Business of 2011; 1.4 Lessons Learned?; 1.4.1 Lessons in Banking; 1.4.2 Lessons in International Finance; 1.5 The ``Appalling Blanḱ́; 2: The Worst Case Scenario; 2.1 Midnight at the Mansion; 2.2 The Botched Bailout; 2.3 A Rejection from the US Fed; 2.4 The WaMu Way?; 2.5 The Geyser Warning; 2.6 A Force Majeure Action; 2.7 God Bless Iceland; 3: Reykjavik on the Thames; 3.1 The Problem with the Bankś Owners; 3.2 An Act of Terrorism?
3.3 Will the Payment System Collapse?3.4 Reykjavik on the Thames; 3.5 Sound and Fury; 4: Day Zero; 4.1 When the Phones Went Silent; 4.2 How to Value Assets?; 4.3 How to Partition the Banks?; 4.4 A Troubled Childhood: The Operation of the New Banks; 4.5 Dealing with Blame, Shame and Punishment; 5: Worthless Currency?; 5.1 The Transfer Problem; 5.2 The Icesave Debacle; 5.3 The Carry Trade Hangover; 5.4 The Current Account and the Capital Controls; 5.5 The Currency Auctions; 5.6 The Political Fallout; 6: Meet the Hedge Funds; 6.1 The Sir Philip Moment; 6.2 Business at the Old Banks
6.3 The Asset Base of the Estates6.4 Hedge Funds as Bank Owners; 6.5 What Kind of Resolution?; 6.6 Asset Return at Composition; 6.7 Sharing the Profitswith the Public; 7: The Faustian Bargain of Capital Controls; 7.1 Would You Like to Own a Stake in Deutsche Bank AG?; 7.2 The Operation of the Controls; 7.3 The Capital Controls as a Bargaining Tool; 7.4 The Carrot and Stick Approach; 7.5 The Stability Contributions; 7.6 The Textbook Case?; 8: Dealing with Monetary Pollution; 8.1 What Happens If You Quadruple the Money Supply in Four Years?; 8.2 Doubling the Money Multiplier
8.3 The Love Letters8.4 Helicopter Drops and the Bernanke Doctrine; 8.5 The Different Meaning of Money in Small Currency Areas; 8.6 Deposit Funding as aCurrency Risk; 8.7 The Stability Conditions; 9: A Full Recovery: Fiscal Cost of the Crisis; 9.1 To Cut the Link Between the Sovereign and Banks; 9.2 Central Bank Collateralized Loans and Treasury Securities Lending; 9.3 Recapitalization of the Commercial Banks; 9.4 Recapitalization of the HFF and the Savings Banks; 9.5 The CBI Loan to Kaupthing and State Guarantees; 9.6 Special Taxes and Stability Contributions of the Estates
9.7 Fiscal Gains from the Capital Controls9.8 A Net Gain; Bibliography; Index
Özet:
This book presents a detailed account of Iceland’s recovery from the tumultuous banking collapse that overturned its financial industry in 2008. Early chapters recount how Iceland’s central bank was unable to follow the quantitative easing policies of the time to print money and save the banks, while serving the world´s smallest currency area. The book goes on to explore how the government exercised force majeure rights to implement emergency legislation aimed at preventing the “socialization of losses”. Later chapters investigate how, eight years later, these policies have yielded renewed growth and reinvigorated liquidity streams for the financial system. The authors argue that Iceland, long-called the ‘canary in the coal mine’ of the developed world, offers important lessons for the future. This book will be useful to all readers interested in better understanding the unique history of Iceland’s banking crisis and the phenomena of its recovery.
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Library | Materyal Türü | Demirbaş | Yer Numarası | Durumu / Lokasyon / İade Tarihi |
|---|---|---|---|---|
Arıyor... | Kitap | EKOBKN0010434 | 332.109491 ASG 2016 | Arıyor... |