Iceland. To investigate how the country dealt with the banking crisis.
In 2007, we predicted the collapse of Iceland's economy due to poor financial conduct.
In 2015, Iceland will become the first European country that hit crisis in 2008 to beat its pre-crisis peak of economic output. (source: The Independent, 2015)
Unlike everyone else, Iceland policed and made accountable those responsible, instead of bailing out those 'too big to fail'. Those in charge of the several banks that went bankrupt were put on trial.
It was even hailed by the IMF as achieving economic recovery without compromising its welfare model.
(source: The Independent, 2015)
Revisiting Iceland - we are going to investigate:
Why did Iceland do what no one else did: throwing the bankers in jail?
What are the other plans of Iceland's reinventing the local banking culture?
What can we learn from Iceland and where is our chance to do the same?