Europe's Populist Left

[Jacob]

Don't countries normally underwrite their banks to a certain degree?

I don't know what you mean.

Things like securing deposits. And whatever the hell it was the Irish did to back up their banks during the banking crisis, but that the Icelanders didn't.

[Admiral Yi]

Ah.  Like deposit insurance.

OK, I can see see depositors yanking their money if deposit insurance disappears.

[Martinus]

I wouldn't be surprised if the local regulator also encouraged local banks to keep local bonds.

[Sheilbh]

Things like securing deposits. And whatever the hell it was the Irish did to back up their banks during the banking crisis, but that the Icelanders didn't.

The Irish didn't just secure despositors, they secured Irish banks bondholders and creditors