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Business

Iceland thaws capital outflow freeze

2008 was a bad year for Iceland. Its three largest banks collapsed - with assets 20 times bigger than the state budgets, the stock market was all but wiped out, and the country's currency, the Krona, fell in value. Since then the Nordic nation has staged a remarkably fast recovery. This week it is saying goodbye to capital controls put in place to stabilise the currency after the crisis.

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