Asia Sentinel

Asia Sentinel

The Iceland Cometh

Philip Bowring's avatar
Philip Bowring
Oct 11, 2008
∙ Paid
Share

What's the 2008 equivalent of the Dutch tulip bulb boom and bust in 1637, which reverberated across Europe with disastrous results after single Viceroy bulbs rose to a price equivalent to US$1,250? My vote goes to Iceland. Not only have all the tiny nation's three major banks - Landesbanki, Kaupthing and Glitnir, failed, but they left a trail of debt so…

Keep reading with a 7-day free trial

Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Asia Sentinel
Publisher Privacy
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture