Wed, Sep 24, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

As Iceland resists paying our billions, let’s not forget just who is to blame

Posted on 22 February 2010

From Guardian: Back in 2007, Norway’s $455bn sovereign wealth fund had made a decision to bet on the misfortune of Iceland’s banking sector. Iceland was furious, and the Norwegians retreated. Yet a small band of Scandinavian economists and bankers remained utterly unconvinced by the stability of Iceland’s banks.
Concerns centred on overinvestment in retail, leisure and property in northern Europe and the UK at the peak of a consumer boom. The Iceland bank sceptics pinged around emails depicting a spider’s web of overlapping ownership. Funding dried up, and credit markets indicated Icelandic banks were the riskiest in Europe…………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 14798 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
September 2014
M T W T F S S
« Aug    
1234567
891011121314
15161718192021
22232425262728
2930