Why Iceland?: How One of the World's Smallest Countries Became the Meltdown's Biggest Casualty

As late as the mid 1980s, Iceland’s economy revolved around little else than a semi-robust cod-fishing industry. By the end of the century, however, it had transformed itself into a major player in world finance, building an international banking empire worth twelve times its GDP. The tiny island nation of 300,000 was one of the global economy’s great success stories.

And then everything came crashing down.

Why Iceland? is the inside account of one of the economic meltd…