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I did not know that. Derp.
"Icelanders can no longer travel freely; we are restricted to roughly €2,000 ($2,570) for travel expenses on each trip. We are restricted in terms of how much support we can give relatives studying abroad and we are completely banned from investing internationally. With the exception of those over 40 who were born on the eastern side of the Iron Curtain, no European has ever experienced such a situation."
Wow.
_XC
Sounds like they could just ease off capital controls at a reasonable pace. All in all, they fared pretty well concerning the magnitude of the jam they were in. Depreciation isn't a panacea, but it does a heck of a lot of good in a massive credit crunch. Maybe adopting the looney would be a good move? I have no idea there.