In the Combat Zone of Finance An Insider’s Account of the Financial Crisis

The 2008 financial crisis was among the worst in history, yet nevertheless offers invaluable lessons. Recorded as the third largest bankruptcy in history, it caused Iceland to experience an instant collapse. Iceland defied the rules of finance; no bailout was attempted, capital movements were restricted, bankers jailed, and creditors fought. Amazingly, although Iceland was hit hardest, it recovered fastest. In The Combat Zone of Finance is an insider’ s account told through anecdotes, dialogues and personal stories. The author, Svein Harald Ø ygard, was offered the job of Central Bank Governor of Iceland just as the crisis struck. He saw how institutions and leaders behaved from inside the system in its deepest crisis. Some made billions; others got burned. Their behaviour, strengths and weaknesses were revealed as in no other country. Ø ygard analyses these events in the context of financial risks facing the world in 2020; knowledge of which is becoming increasingly relevant.

Svein Harald Ø ygard was appointed interim Central Bank Governor of Iceland in the midst of the country’ s deepest crisis. He became the first non-national to head an independent Central Bank. Previously, he was Deputy Minister of Finance for Norway and he has worked at McKinsey & Company as a corporate strategist for 22 years.