Dominique Strauss-Kahn, the CEO of the IMF says that the Icelandic government reacted badly to the financial crisis of last year and that mistakes have been made. Strauss-Kahn used Lehman Brothers and Iceland as examples of responsive failures of the economic crisis in a speech in Vienna last week.

Even though the Icelandic banks had many foreign customers with savings accounts, the Icelandic government failed to intergrate its operations with the governments of the respective countries according to Strauss-Kahn. Mistakes were made but the government learned from them and is still learning. As the crisis evolved globally, the responses to it were more coordinated.

Related posts:

1. Strauss-Kahn: Privatization of Banks Original Cause of Iceland Collapse
2. Strauss-Kahn’s Letter
3. SFO Investigators To Head To Iceland In JJB Probe
4. Iceland: The land without an economy
5. Banking in Iceland: A Matter Of Life And Death