Fed up of crises, Iceland mulls a monetary revolution

Iceland's government said Tuesday it would consider a revolutionary monetary proposal removing the power of commercial banks to create money and handing it to the central bank.

The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Iceland".

http://www.france24.com/en/20150401-fed-crises-iceland-mulls-monetary-r…