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Planet Money

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Business, News & Politics

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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#268: The Island That Ran Out Of Money

April 20th, 2011

Episode 367 of 910 episodes

Iceland — the whole country — has about as many people as Lexington, Kentucky. It also has its own currency, the Krona. So during the boom, Iceland's banks got rich by going abroad — by borrowing and lending in euros to customers around Europe. When the crisis hit, that led to a big problem: Iceland ran out of foreign money.

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