Seminar: Icelandic Minister of Economic Affairs/Professor at University of Iceland Gylfi Magnússon.

Title: How will Iceland overcome the financial crisis?

Please notice: Reception in the meeting room of Department of Economics, Porcelænshaven 16 A, room 2.80 (2. fl) after the seminar!

Abstract:

The Icelandic economy: state and outlook.

Dr. Gylfi Magnusson Minister for Economic Affairs, who was a professsor of economics until he took up his position in government, will describe the state of the Icelandic economy both in a historical and international context and discuss future prospects. The Icelandic economy went through a major financial shock in the fall of 2008. The country's largest banks collapsed but the shock to the finan-cial system now seems to be far lar-ger than to the real economy. Dr. Magnusson argues that it may be easier to explain what happened as a necessary correction as a financial bubble economy burst rather than an unexpected collapse or downturn.