From Iceland — Central Bank Chairman Claims He "Warned" of Collapse

Central Bank Chairman Claims He “Warned” of Collapse

Published February 25, 2009

Central Bank chairman Davíð Oddsson, in a rare interview on the news
discussion show Kastljósið, remarked that he not only saw the economic
collapse coming, but warned that it would happen – among other things.
Among the many things Oddsson held forth in his interview are these highlights:
-Oddsson claimed that in February 2008, the Central Bank consulted with
European economic experts on Iceland’s banking system. The conclusion
reached was that the banks would collapse in October. This conclusion
was submitted to the government at the time. He added that he has actually been warning of an impending economic collapse since 2006.
-Oddsson contends that the Central Bank continues to enjoy the
confidence of foreign investors, even after the banks collapsed. He
added that after the banks collapsed, Icelanders overseas were still
able to use their credit cards, thanks to the Central Bank. He added
that he has personally been praised for his performance as Central Bank
-Oddsson emphasised that he has no desire to return to politics.
More coverage of this interview will follow soon.

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