Why are they in such close contact?

It was an odd episode, and highlights the other, deeper problem at the heart of Iceland’s banking system. How did the prime minister’s office know that a junior journalist in London was writing a story about Iceland? Presumably because someone from one of the banks told them. If so, why are they in such close contact? Because the whole system is run by a small group of men who go back a long way and, in the words of one businessman, “sit in the same hot tub three times a week”.

Couple of good articles from the Financial TImes

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