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
Iceland 2013, opinion polls showed that many Icelanders were now against joining the EU; following 2013 elections the two parties that formed the island's new government—the centrist Progressive Party and the right-wing Independence Party—announced they would hold a referendum on EU membership. Iceland has no standing army, but the Icelandic Coast Guard which also maintains the Iceland Air Defence System, and an Iceland Crisis Response Unit to support peacekeeping missions and perform paramilitary functions. The Iceland Defense Force (IDF) was a military command of the United States Armed Forces from 1951 to 2006. The IDF, created at the request of NATO,