Iceland looks at ending boom and bust with radical money plan

Iceland looks at ending boom and bust with radical money planMr Sigurjonsson said the problem each time arose from ballooning credit during a strong economic cycle. Frosti Sigurjonsson’s report, entitled A Better Monetary System For Iceland He argued the central bank was unable to contain the credit boom, allowing inflation to rise and sparking exaggerated risk-taking and speculation, the threat of bank collapse and costly state interventions.

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