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
Military history of Iceland Military history of Iceland This is a brief overview of historical warfare and recent developments in what today constitutes the Republic of Iceland. In the period from the settlement of Iceland, in the 870s, until it became part of the realm of the Norwegian King, military defences of Iceland consisted of multiple chieftains ("Goðar") and their free followers ("þingmenn", "bændur" or "liðsmenn") organised as per standard Nordic military doctrine of the time in expeditionary armies such as the "leiðangr". The armies being divided into units by the quality the warriors and birth. At the end of this period the number