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 in India and enforced. Guy Standing has argued, based on SEWA's 2010-2013 Madhya Pradesh basic income pilot, that the emancipatory value of basic income exceeds its monetary value where money itself is a scarce commodity. The emancipatory value is, according to Standing, greater because basic income has effects on the economic security of the receivers that goes beyond the increase in their income. He identifies four explanations for such effects: 1) While the basic income was used to reduce debt, it was also used to accumulate savings to be used in the case of sickness or other emergencies. In SEWA's basic income