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 of Iceland defences. Foremost of these are the National Security Unit, which handles intelligence operations and the special unit Víkingasveitin, a highly trained and equipped counter terrorism unit which is part of the National Police force. Additionally there is a Crisis Response Unit (ICRU), operated by the Ministry for Foreign Affairs, which is a small peacekeeping force that has been deployed internationally, since 2008. This unit also has an unarmed component. There is a treaty with the United States, regarding the defense of Iceland, which until 2006 maintained the Naval Air Station Keflavik. The base, now operated by the Icelandic Coast Guard,