Iceland and the International Monetary Fund was to stem capital outflows, to restore confidence in the Icelandic economy and to thus stabilize the Icelandic Krona (ISK) 2008–2011 Icelandic financial crisis. Measures adopted by Iceland included an emergency nationalization of the failing banks, a vote of the Icelandic parliament gave the FME (Icelandic Financial Supervisory Authority) broad authority over the insolvent banks. FME proceeded to audit these banks and to split their assets. Measures were also introduced to increase the minimum capital adequacy ratio of the banks to 10% as a part of the effort to re establish confidence in the economy. As a part of these
The Natural History of Iceland The Natural History of Iceland The Natural History of Iceland () is a natural history of Iceland by Danish lawyer Niels Horrebow. It was first published in Danish in 1752 with an English translation in 1758. The book was intended to correct errors in past natural histories of Iceland, particularly the work of Hamburg mayor Johann Anderson, who had written about the island without ever actually visiting it. Anderson had relied entirely on accounts from German and Dutch sea captains, but Horrebow lived in Iceland for two years, studying the animals, plants, weather, and geological features. He also made note