Iceland debt and devaluation case paper

I need an explanation for this Economics question to help me study.

1. Could Iceland pay back its debt; how?

2. Moody’s downgraded Iceland, but what did the downgrade do? Was the downgrade justified

3. What was the impact of the collapse of Lehman Brothers on Iceland’s refinance opportunities?

4. Why did Iceland nationalize its banks?

5. What exchange controls did the Central Bank of Iceland impose?

6. What did the IMF do?

7. Why did banks take on so much risk?

8. What about US before subprime crisis? Was the situation comparable?

9.Should Iceland join the EU?

The first reading that can help with the question is attached below.

The second reading that can help with the question is ………

(Minimum 1000 word count. Be sure to CITE and REFERENCE 4 sources).

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