Iceland and the International Monetary Fund Intent. The conditionalities include details of Banking Sector restructuring, changes to Fiscal Policy including government austerity and changes to exchange rate policies. Following the global financial crisis in 2007-2008 Iceland's banking sector collapsed leading to wide ranging unemployment and a lessening of support for the Icelandic currency - the Icelandic Krona ISK. This was triggered by an insolvency of the private banking sector. The largest Icelandic banks had liabilities in excess of 80 percent of GDP . Iceland requested assistance from the IMF and from its Nordic partners in the Nordic Council. The goal of Iceland in this market intervention
Iceland Defense Force Base Gagetown in southern New Brunswick, to simulate the defense of Iceland against Warsaw Pact forces, the CAPSTONE mission of both the 187th and 167th. Part of the 1992 exercise included lanes training as part of the United States Army Forces Command's "Bold Shift" initiative to reinforce unit war-fighting task proficiency. Operation Northern Viking is a series of defense of Iceland exercises, held biennially for several years. In 2006 the frequency was increased. On 15 March 2006 the U.S. Ambassador to Iceland announced the decision of the United States to withdraw the Iceland Defense Force before the end of September