TIME Blames Crisis on Iceland’s Central Bank Chair Skip to content

TIME Blames Crisis on Iceland’s Central Bank Chair

American news magazine TIME named Icelandic Central Bank governor and chairman, and former prime minister, Davíd Oddsson as one of the 25 people to blame for the global financial crisis.

Davíd Oddsson. Copyright: Icelandic Photo Agency.

The list also includes Alan Greenspan, former Chairman of the US Federal Reserve, Dick Fuld, former CEO of the Lehman Brothers, Kathleen Corbet, former director of credit rating company Standard & Poor’s and the American consumer, Fréttabladid reports.

TIME’s review of Oddsson’s work reads:

“Oddsson made his tiny country an experiment in free-market economics by privatizing three main banks, floating the currency and fostering a golden age of entrepreneurship. When the market turned … whoops! Iceland’s economy is now a basket case.”

Oddsson has refused to resign as Central Bank governor and chairman, while Iceland’s other two Central Bankers have decided to comply with Prime Minister Jóhanna Sigurdardóttir’s request.

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