Iceland incident

Brief introduction of the incident

At the beginning of p>27, the subprime mortgage crisis in the United States began to take shape, and the subsequent financial crisis swept the world. Countries have introduced corresponding policies to deal with the financial crisis. But no one expected that Iceland, which once ranked fourth in the world in gdp and was known as "the happiest country in the world", was in danger of "national bankruptcy" in this financial storm.

since October 6th, 28, the exchange rate of the Icelandic krona against the euro dropped by more than 25%, all the shares of Icelandic banks in Reykjavik stock market were stopped trading, and the international credit rating agencies downgraded Iceland's credit rating from a- to bbb, so Iceland became the focus of this financial crisis. The Icelandic government has taken over three major banks in Iceland: kaupthing, landsbanki and glitnir. Iceland announced that it would apply to the International Monetary Fund (imf) for a $2.1 billion aid loan to deal with the financial crisis, making Iceland the first western country to accept IMF loans since 1976.

In 25, the per capita GDP of this country was $52,764, but now it is heavily in debt: compared with the GDP of $19.37 billion, the foreign debt of the financial industry has reached nine times as much as the GDP.

In addition, Pakistan, Argentina, Ukraine and other countries are also facing the same serious crisis, and the financial crisis is knocking the world with the concept of "national bankruptcy".