THE SHOCKING ERRORS BEHIND ICELAND'S MELTDOWN
是誰拖垮了冰島?


倫敦商學院教授伯茨:冰島三大銀行都具備償付能力。它們上半年業績良好;有著健康的資產充足率,同時對市場融資的以來程度並不比同行高。冰島崩潰的原因在於這場危機的嚴重程度和該國政府駭人聽聞的政策失誤。

Iceland's Glitnir Bank was among the first casualties. One of the many vicious circles in this crisis ensnared Iceland's banks: they were deemed too risky because the country's central bank seemed not to be a credible lender of last resort, while the government and central bank were deemed not credible because they might have to take over the banks.

冰島的Glitnir銀行是第一批受害者之一。冰島的銀行陷入了這場危機中的衆多惡性循環之一:由於冰島央行看上去不是可靠的最後貸款人,市場認爲冰島的銀行風險過高;而人們認爲冰島政府和央行不可靠,因爲它們可能不得不接管銀行。

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