Iceland’s economic journey

The tiny island nation is making the transition from financial ruin to a fledgling recovery.

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April 12, 2010

Pall Hreinsson, right, the chairman of a special investigative commission, listens as member Sigridur Benediksdottir discusses the commissions’ findings on the events leading to the downfall of Icelandic banks in October 2008 in a news conference in Reykjavik, Iceland. The 2,300-page government-commissioned report detailed a litany of mistakes made by lawmakers, the Central Bank and other regulators in the lead-up to the bank meltdown, an event that wreaked political and economic havoc in the tiny nation.

Brynjar Gunnarsson / AP

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