Overview

The 2008 financial crisis was among the worst in history, yet nevertheless offers invaluable lessons. Recorded as the third largest bankruptcy in history, it caused Iceland to experience an instant collapse. Iceland defied the rules of finance; no bailout was attempted, capital movements were restricted, bankers jailed, and creditors fought. Amazingly, although Iceland was hit hardest, it recovered fastest. In The Combat Zone of Finance is an insider's account told through anecdotes, dialogues and personal stories. The author, Svein Harald Øygard, was offered the job of Central Bank Governor of Iceland just as the crisis struck. He saw how institutions and leaders behaved from inside the system in its deepest crisis. Some made billions; others got burned. Their behaviour, strengths and weaknesses were revealed as in no other country. Øygard analyses these events in the context of financial risks facing the world in 2020; knowledge of which is becoming increasingly relevant. AUTHOR: Svein Harald Øygard was appointed interim Central Bank Governor of Iceland in the midst of the country's deepest crisis. He became the first non-national to head an independent Central Bank. Previously, he was Deputy Minister of Finance for Norway and he has worked at McKinsey & Company as a corporate strategist for 22 years. SELLING POINTS: . An incredible inside story of a country that crashed and recovered from the financial crisis . Iceland became a symbol of the extremes of the 2008 financial crisis – an honest insider's account of what happened . Written by the then Central Bank Governor of Iceland, who was tasked with rescuing the country . In the same vein as Michael Lewis' Flash boys and The Blind Side, this is a dramatic narrative of our economic times . Offers a unique vantage point to observe the forces of global banking, finance and economics

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9781912555659

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"""An important book about the events of the 2008 financial crisis, Øygard writes prose that is as clear and economical as that found in an Icelandic saga - and the story he tells is no less dramatic."" Eva Joly, member of the European Parliament, former French magistrate, former advisor to the Ministry of Justice and Ecclesiastical Affairs, Icelandic government and former French presidential candidate ""This is the amazing story of a radical break with previous established international practice on how financial crises should be addressed which proved amazingly successful and altered financial crisis management practice. It's told by an insider with an outsider's perspective: it's frank, colourful, very personal and it even manages to be a fun read. I just regret that I didn't have the opportunity to read it before the Swedish financial crises of 1992 and 2008."" Leif Pagrotsky, Former Swedish Minister for Industry and Trade, and former Swedish Minister for Culture and Education ""A thorough and analytical book which also has a free narrative form characterized by the author's own encounter with the financial industry, the people and the politics in Iceland. It gives economists a rare opportunity to look into the financial world."" Bjorn Skogstad Aamo, Former Director, the Financial Supervisory Agency of Norway"

An important book about the events of the 2008 financial crisis, Oygard writes prose that is as clear and economical as that found in an Icelandic saga - and the story he tells is no less dramatic. Eva Joly, member of the European Parliament, former French magistrate, former advisor to the Ministry of Justice and Ecclesiastical Affairs, Icelandic government and former French presidential candidate This is the amazing story of a radical break with previous established international practice on how financial crises should be addressed which proved amazingly successful and altered financial crisis management practice. It's told by an insider with an outsider's perspective: it's frank, colourful, very personal and it even manages to be a fun read. I just regret that I didn't have the opportunity to read it before the Swedish financial crises of 1992 and 2008. Leif Pagrotsky, Former Swedish Minister for Industry and Trade, and former Swedish Minister for Culture and Education A thorough and analytical book which also has a free narrative form characterized by the author's own encounter with the financial industry, the people and the politics in Iceland. It gives economists a rare opportunity to look into the financial world. Bjorn Skogstad Aamo, Former Director, the Financial Supervisory Agency of Norway

"""An important book about the events of the 2008 financial crisis, �ygard writes prose that is as clear and economical as that found in an Icelandic saga - and the story he tells is no less dramatic."" Eva Joly, member of the European Parliament, former French magistrate, former advisor to the Ministry of Justice and Ecclesiastical Affairs, Icelandic government and former French presidential candidate ""This is the amazing story of a radical break with previous established international practice on how financial crises should be addressed which proved amazingly successful and altered financial crisis management practice. It's told by an insider with an outsider's perspective: it's frank, colourful, very personal and it even manages to be a fun read. I just regret that I didn't have the opportunity to read it before the Swedish financial crises of 1992 and 2008."" Leif Pagrotsky, Former Swedish Minister for Industry and Trade, and former Swedish Minister for Culture and Education ""A thorough and analytical book which also has a free narrative form characterized by the author's own encounter with the financial industry, the people and the politics in Iceland. It gives economists a rare opportunity to look into the financial world."" Bjorn Skogstad Aamo, Former Director, the Financial Supervisory Agency of Norway"

Author Information

Svein Harald Øygard was appointed interim Central Bank Governor of Iceland in the midst of the country’s deepest crisis. He became the first non-national to head an independent Central Bank. Previously, he was Deputy Minister of Finance for Norway and he has worked at McKinsey & Company as a corporate strategist for 22 years.

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