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 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