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But that is central to the whole Icesave dispute: Icelandic banks were able to operate in the say they did because of EU common market freedoms, whereas the regulation of cross-border banking and in particular of deposit insurance was totally deficient. See the article linked to here.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Mon Mar 8th, 2010 at 02:08:55 PM EST
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