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
Constituencies of Iceland number of votes per seat in parliament in one constituency goes below half of what it is in any other constituency, one seat shall be transferred between them. This has occurred, and as of the elections in 2007, one seat was transferred from the Northwest constituency to the Southwest one. The constituencies are the following (number in brackets indicate number of representatives for that constituency out of 63 total): Constituencies of Iceland Iceland is divided into 6 constituencies for the purpose of selecting representatives to parliament. The current division was established by a 1999 constitution amendment and was an attempt