Insider Stories from Iceland

The literature on the Icelandic crisis is growing.  While the report of the ‘Truth Commission’  is eagerly awaited, it is also very interesting to read insider accounts of the crisis.

I found Why Iceland?: How One of the World’s Smallest Countries Became the Meltdown’s Biggest Casualty by Asgeir Jonsson to be an excellent read.  Jonsson was the Chief Economist at Kaupthing Bank.

A new release is Frozen Assets: How I Lived Iceland’s Boom and Bust, which is written by Armann Thorvaldsson, a former CEO at Kaupthing in the UK.

While it is illuminating to read such insider accounts,  it is also important to recognise the inherent trade off:  such individuals have access to non-public information and can provide a unique perspective; however, by the same token, the interpretations offered in such books are not necessarily fully balanced.

Still, it would be very helpful if senior figures in the Irish banks provided such insider accounts of the boom and bust in the Irish banking system.

Statement from Minister of Finance

Brian Lenihan has released a statement about his health status: you can read it here.

There is a lengthy and wide-ranging interview with the minister on the News At One: you can listen here.

With best wishes to the Minister for a speedy recovery.

The Travails of EMU

Landon Thomas has an article on the fragility of EMU in today’s New York Times: you can read the article here.

The Irish Economy in 2010

You can find my views in this article for Business & Finance.

Hyun Shin: New Advisory Position

Hyun Shin of Princeton has been among the most insightful analysts of the global crisis.  He now has taken on a new role: helping Korea in its presidency of the G20 during 2010, as chief advisor on international economics to the President of Korea .

You can learn more about his research here.

The announcement of the new position is here.