Historian Releases Book on Iceland’s Banking Collapse Skip to content

Historian Releases Book on Iceland’s Banking Collapse

Icelandic historian Gudni Th. Jóhannesson, who previously released a book on the Cold War “phone taps scandal” that created quite a media frenzy in 2006, released the book Hrunid (“The Collapse”) this week, analyzing the events leading up to the current economic crisis in Iceland.

The book’s full title is Hrunid: Ísland á barmi gjaldthrots og upplausnar (“The Collapse: Iceland on the Verge of Bankruptcy and Dissolution”) and is the first complete overview of the Icelandic economic collapse and its consequences, from when the thunderclouds of the crisis began to darken the skies overseas up until the Icelandic government stepped down, as stated in a press release from the publisher, JPV Útgáfa.

Jóhannesson has collected many unique and previously unknown sources on what took place during the fateful days of the unraveling of the crisis, including emails, telephone conversations and notes.

Here are a few of the quotes from the book:

“You don’t control the program in my house!”

Former Central Bank governor Davíd Oddsson to a representative of the International Monetary Fund during a meeting in the Central Bank.

“We in the Social Democrats will not accept how [Davíd Oddsson] is preoccupied with controlling and spreading innuendo and blame. Therefore he has to go.”

From an email from former Foreign Minister Ingibjörg Sólrún Gísladóttir to former Prime Minister Geir H. Haarde and the then Minister of Industry Össur Skarphédinsson.

“We will take further action as necessary against the Icelandic authorities in order to reclaim funds.”

UK Prime Minister Gordon Brown.

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