The Government of Iceland has appointed Norwegian-French Magistrate Eva Joly as a special adviser on the investigation of cases linked to the country’s economic collapse. Norwegian born Joly specialised in financial affairs during her studies in France. In 1990 she joined the High Court of Paris as an investigating judge. She quickly made a [...]

Are you a foreigner who is still scratching your head regarding the price-indexation? In plain and simple terms, in the last two years I have paid around 2,5 million ISK to the bank for the home loan. In the same two years, the home loan has grown by 2,5 million ISK.  This basically means that [...]

Students at the University of Reykjavik should be in for a treat. Former Landsbanki CEO Sigurjon Arnason and Baugur financial wizard Tryggvi Jonsson are now both teaching at the university.  The university’s owner is the much maligned Icelandic Chamber of Commerce, where the list of board members reads like a who is who of people [...]

Fifty-three percent of Kaupthing’s loans were granted to ten individuals/businesses. Nine of those ten were registered in the UK, one in Luxembourg.  In the months leading to the crash, Kaupthing lent 478 billion ISK to its owners, Agust and Lydur Gudmundson of Exista, Olafur Olafsson and Robert Tchenguiz or companies owned by them through Luxembourg [...]

Financial regulation is a now-or-never proposition as the sector’s lobbying power is greatly diminished. This column argues that we should embrace robust regulation now, risking over-regulation. Correcting mistakes later would be better than risking another era of “self-” or “soft-touch” regulation. From Willem Buiter in Voxeu

[youtube=http://www.youtube.com/watch?v=lstDdzedgcE&NR=1] Radiohed also has their own explanation. Thanks Jon.

  The economic crisis explained the way only Irishmen could, thanks Jonathan for the tip:  One version of the explanation of the financial crisis….how it originated…. Linda is the proprietor of a bar in Cork. In order to increase sales, she decides to allow her loyal customers – most of whom are unemployed alcoholics – [...]

[youtube=http://www.youtube.com/watch?v=rH6_i8zuffs] More videos here “Some of you may not realize that Argentina, a country rich in natural resources with a generally well-educated population, has undergone an economic collapse since 2001. The primary reasons for this collapse are corrupt politicians, and fraudulent banking institutions that colluded to put the country into massive DEBT!”

As office sales go, it takes some beating. Jón Ásgeir Jóhannesson, the founder of Icelandic retail investor Baugur, is trying to sell thousands of pounds worth of designer furniture from the company’s head office to former staff members, many of whom were suddenly made redundant when the chain collapsed into administration last month. From the [...]

Jon Asgeir Johannesson and Gunnar Sigurdsson, the boys behind the troubled retail group Baugur, may be moving on. The Icelandic duo are understood to have registered a new company in the UK and even found office premises for the venture. No news yet on what the pair are planning, but the company does have a [...]