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    Love letters from Iceland: accountability of the Eurosystem

    Sibert, Anne (2010) Love letters from Iceland: accountability of the Eurosystem. Vox ,

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    Abstract

    Investigation of Iceland's meltdown has revealed dodgy behaviours ranging from neglect to criminal fraud. This column describes how Icelandic banks issued “love letters” to each other – swapping their debt securities and using the other bank’s debt as collateral. This ruse ensnared not just the Icelandic Central Bank, but also the ECB – a fact that has only recently come to light. The ECB's lack of transparency on this is a serious problem.

    Metadata

    Item Type: Article
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 06 May 2014 08:49
    Last Modified: 06 May 2014 10:00
    URI: https://eprints.bbk.ac.uk/id/eprint/9667

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