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29/09/2008 Iceland financial crisis errupts

6:10

The financial crash in Iceland in 6 minutes according to ABC´s 20/20.

6:01

The financial crisis 10 years on

3:10

How Iceland Beat The Banks

The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom.