#268: The Island That Ran Out Of Money
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vor 14 Jahren
Iceland — the whole country — has about as many people as Lexington, Kentucky. It also has its own currency, the Krona.
So during the boom, Iceland's banks got rich by going abroad — by borrowing and lending in euros to customers around Europe.
When the crisis hit, that led to a big problem: Iceland ran out of foreign money.
So during the boom, Iceland's banks got rich by going abroad — by borrowing and lending in euros to customers around Europe.
When the crisis hit, that led to a big problem: Iceland ran out of foreign money.
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