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
Basic income around the world citizen an unconditional basic income. Although the next parliamentary election in Iceland will not be held before April 2017, as of March 2016 the Icelandic Pirate Party has held an overall lead in opinion polls since April 2015. Currently the chief advocacy group is Basic Income Ireland, a member of BIEN. Social Justice Ireland has produced a fully costed proposal for 2012. Before that, the main advocate was CORI (Conference of Religious of Ireland), one of the social partners. Politically, the Green Party and Fianna Fail (the latter as of July 2015) favour a Basic Income. As part of the