{"product_id":"iceland-2008-from-a-banking-crisis-to-a-sovereign-debt-crisis-von-malte-vieth","title":"Iceland 2008. From a Banking Crisis to a Sovereign Debt Crisis","description":"\u003cp\u003eSeminar paper from the year 2012 in the subject Economics - Finance, grade: 2,3, Johannes Gutenberg University Mainz, course: Seminar Financial Institutions, language: English, abstract: During the current financial crisis which started in the year 2007 with the bust of the\u003c\/p\u003e\u003cp\u003eAmerican housing market and peaked with the collapse of Lehman Brothers we\u003c\/p\u003e\u003cp\u003eobserve that many countries face difficulties with their domestic banking system.\u003c\/p\u003e\u003cp\u003eFor instance Germany had problems with several Landesbanken, the Hypo Real\u003c\/p\u003e\u003cp\u003eEstate (HRE) and with Commerzbank or the United States struggled with the\u003c\/p\u003e\u003cp\u003ecollapse of Merrill Lynch and Bear Stearns leading to an enforced merger with Bank\u003c\/p\u003e\u003cp\u003eof America and JP Morgan Chase respectively. In other countries problems in the\u003c\/p\u003e\u003cp\u003ebanking system were more dramatic. After rumors in the United Kingdom about a\u003c\/p\u003e\u003cp\u003ecollapse of Northern Rock people went immediately to the branches to withdraw\u003c\/p\u003e\u003cp\u003etheir deposits. The picture spread the world when people waited outside in a queue\u003c\/p\u003e\u003cp\u003eof a branch of Northern Rock to get inside. To prevent a domestic bank run in the\u003c\/p\u003e\u003cp\u003eUnited Kingdom the government nationalized several financial institutions such as\u003c\/p\u003e\u003cp\u003eRoyal Bank of Scotland; afterwards holding a stake of 95% in this particular\u003c\/p\u003e\u003cp\u003einstitution. Nowadays Spain faces a huge banking crisis after the bust of the Iberian\u003c\/p\u003e\u003cp\u003ehousing bubble. But what is the problem of having a banking crisis?\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783656632481\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783656632481","offer_id":39446688137309,"sku":"9783656632481","price":17.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/32f69fed-043e-4717-b6b7-5d07848fd270.jpg?v=1778135280","url":"https:\/\/shop.autorenwelt.de\/products\/iceland-2008-from-a-banking-crisis-to-a-sovereign-debt-crisis-von-malte-vieth","provider":"Autorenwelt Shop","version":"1.0","type":"link"}