Iceland and the International Monetary Fund Intent. The conditionalities include details of Banking Sector restructuring, changes to Fiscal Policy including government austerity and changes to exchange rate policies. Following the global financial crisis in 2007-2008 Iceland's banking sector collapsed leading to wide ranging unemployment and a lessening of support for the Icelandic currency - the Icelandic Krona ISK. This was triggered by an insolvency of the private banking sector. The largest Icelandic banks had liabilities in excess of 80 percent of GDP . Iceland requested assistance from the IMF and from its Nordic partners in the Nordic Council. The goal of Iceland in this market intervention
Military of Iceland the ICRU's assignments, all of its members receive basic infantry combat training. This training has often been conducted by the Norwegian Army, but the Coast Guard and the Special forces are also assigned to train the ICRU. Most of the ICRU's camouflage and weaponry is procured from abroad, with some indigenous development. Some arms and uniforms are also borrowed from the Norwegian Defence Forces. The formation and employment of the unit has met controversy in Iceland, especially by people to the left on the political scale. In October 2004, three ICRU soldiers were wounded in a suicide bombing in Kabul.