Iceland 2008: Banking on a Fishing Village

Описание: How did a country of just 300,000 people create banks larger than its entire economy?
In this episode, we unravel the unbelievable story of Iceland’s 2008 financial collapse — a tale of ambition, globalization, and hubris. Once hailed as a Nordic success story, Iceland transformed from a fishing-based economy into a high-flying financial hub, fueled by easy credit, foreign capital, and unchecked expansion.

But when the global financial crisis hit, Iceland’s “too big to fail” banks — Kaupthing, Glitnir, and Landsbanki — collapsed under their own weight. The Icelandic krona plummeted, unemployment soared, and an entire nation was left wondering how their small island became ground zero for a global meltdown.

This video explores the mechanics behind the banking bubble, the international fallout, and how Iceland became the first modern nation to let its banks fail — rewriting the playbook for economic recovery.

If you love stories of financial history, policy lessons, and the human side of economic collapse, this episode dives deep into how a fishing nation learned the hard way what happens when dreams of global finance meet the cold waters of reality.

📌 Key Points Covered
How Iceland’s financial sector grew from fishing to finance
The rise and fall of Kaupthing, Glitnir & Landsbanki
Why Iceland’s banks became “too big to save”
The role of foreign investors and deregulation
How Iceland’s citizens fought back — and rebuilt
Lessons for small economies in a globalized world

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