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 was officially recognised as a minority language in 2011. In education, its use for Iceland's deaf community is regulated by the "National Curriculum Guide". English and Danish are compulsory subjects in the school curriculum. English is widely understood and spoken, while basic to moderate knowledge of Danish is common mainly among the older generations. Polish is mostly spoken by the local Polish community (the largest minority of Iceland), and Danish is mostly spoken in a way largely comprehensible to Swedes and Norwegians—it is often referred to as "skandinavíska" (i. e. "Scandinavian") in Iceland. Rather than using family names, as is