Love letters from Iceland: accountability of the Eurosystem
Sibert, Anne (2010) Love letters from Iceland: accountability of the Eurosystem. Vox ,
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Official URL: http://www.voxeu.org/article/love-letters-iceland-...
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 |
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School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
Depositing User: | Sarah Hall |
Date Deposited: | 06 May 2014 08:49 |
Last Modified: | 02 Aug 2023 17:10 |
URI: | https://eprints.bbk.ac.uk/id/eprint/9667 |
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