Iceland has become something of a poster child for a country that borrowed too much money and sucked in cheap capital.
The country's banks got more than a little carried away.
According to The Financial Times. "The witch-hunt is sustained by a sense of injustice that these upstarts
got so big in the first place - combined assets of the top three are
about nine times Iceland’s gross domestic product."
The banks are now of course in terrible trouble forcing the Icelandic government to bail them out with money it doesn't have.
No need for me to worry
No need for me and other Kaupthing Edge savers in Uk to worry. Kaupthing Edge is covered by the UK Financial Services Compensation Scheme Posted by kevin adam on 10/02/2024 11:18 AM
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No need for me and other Kaupthing Edge savers in Uk to worry. Kaupthing Edge is covered by the UK Financial Services Compensation Scheme