On Dec 27, 2008, at 10:20 AM, Robert Naiman wrote:

Isn't it the case that a big part of what sets Iceland apart is the
ratio of the international exposure of its banks to the size of its
economy.

Yes, and with a currency almost no one ever thought about. Portes said that they should have arranged some swap lines with the ECB in advance, but they didn't.

Doug
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