“Iceland plans to create a set of laws to protect the island’s financial stability as it moves closer to removing capital controls that are blocking almost $6 billion in assets from exiting its markets. The country has already implemented a number of ‘prudential rules’ and is working on others, including giving regulators the power to stop ‘excessive’ capital inflows and to limit foreign-currency borrowing. Iceland imposed capital controls following the $85 billion default of Kaupthing Bank hf, Glitnir Bank hf and LBI hf in 2008. The banking crisis sent Iceland’s currency into a tailspin and forced the government to seek a $4.6 billion bailout led by the International Monetary Fund.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Two-thirds of millionaires left Britain to avoid 50p tax rate
Researchers create battery that recycles sewage into energy
Man sics cops on kid's lemonade stand, now in license trouble himself
Julian Assange reveals government eavesdropping messages speculating he’s being framed
Dubai to Add Spot Gold Contract
Police spies slept with, abandoned female targets on taxpayer dime
Republican Party of Texas Backs Marijuana Decriminalization
Peter Thiel is reportedly exiting Silicon Valley
U.S. officials say global terror threat is 'very specific'
Microsoft is using your data to target political ads on Xbox Live
Get Ready: Everything Is Going to Cost More Next Year
Video Killed Trust in Police Officers
Rally at Oklahoma Capitol opposes U.S. intervention in Syria
Financial services in developing countries
Caught On Camera: Woman Goes Into Cardiac Arrest During Traffic Stop