2008 European Debt Crisis: Iceland
Group Members
Iesha-Marie Walker
Iesha-Marie Walker
Edie Bensley
Gloria Manu
Arjun Robertson
Chloe Harrison-Steward
Nadine P.c.r. Benck
We came together as a group to discuss what we have read on the Icelandic financial crisis. Once we finished our discussion we divided up the work into sub-topics. We set up a google document so that we can all start writing and editing our work. We also arranged a regular meeting time and set up a group chat so that we can constantly communicate with each other.
Iesha-Marie Walker: Introduction/Specifically focusing on the background of the financial crisis in Iceland and some of the main causes that led up to the crisis.
Edie: I will be writing about three main causes of the crisis: the political influence, the government’s inexperience in finance/banking, and the structure/size of the national economy pre-crisis.
Gloria: I will be researching about the structural changes that the Icelandic financial system went through during privatisation and what the aims were.
Nadine: I will be researching the shift within the national food industry post crisis. And possible look into tourism and its relation to foreign investment.
Chloe: I will be focusing on the effects, causes and impact of the financial crisis within the sector of environmental renewable energy sources and how it relates to Iceland’s changes in standards in living and quality of life.
Arjun: I will be summarising the financial products made internationally available which, alongside rising interest rates caused from an increase in pricing, provided incentive for foreign investment i.e. from the UK and the Netherlands. From this I will assess to what extent the impact of foreign investment upon Iceland’s economy was direct/had a paradoxical effect on its decline.
Good, the topic is focused but the outline of research suggests it is very wide ranging, more like Iceland's role in the EU sov debt crisis. I suggest focusing: (1)EU regulatory framework; (2) 3 largest banks; (3) what laws were broken, and what was done about it. I am very excited to read more about this. I know Claes Belfrage out of Liverpool writes on this as well as Willem Builer of Citibank - both are interesting.
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