Ship Finance through Boom and Bust

             Ships are large expensive assets that are financed over long periods of time. Therefore, in the case of warships, they are physical expressions of a state’s fiscal power. Meanwhile, cargo ships, including tanker ships, require private financing which has been leveraged to greater degree just in the past sixty years or so. However, shipping

The Older Icelandic Banking Crisis

            In 2008, Iceland was afflicted by a banking crisis caused in part by its banks raising huge sums of deposits from foreign savers at high interest rates and the investing of these deposits in questionable assets marked at values that proved impossible to realize. Banking assets as a percentage of Iceland’s small GDP grew

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