Исландия - первая жертва глобального кризиса

Abstract

The article deals with causes and consequences of the global financial crisis in the small-scaled economy of Iceland which appeared to be its first victim. The author investigates the mechanism of crisis in Iceland, where the Government was too slow in tightening state regulation in the financial sector. The country happened to be a bankrupt due to the liberal model of regulation and high interest rate causing high level of investments up to the credit and mortgage crises development. ; The article deals with causes and consequences of the global financial crisis in the small-scaled economy of Iceland which appeared to be its first victim. The author investigates the mechanism of crisis in Iceland, where the Government was too slow in tightening state regulation in the financial sector. The country happened to be a bankrupt due to the liberal model of regulation and high interest rate causing high level of investments up to the credit and mortgage crises development.