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Then there's Iceland. During the global financial crisis, Iceland's banking system collapsed, and the country was hit with massive capital outflows. To prevent the situation from getting even worse, the government imposed strict capital controls, limiting the amount of money that could leave the country. These controls were controversial, but they helped to stabilize the economy and prevent a complete meltdown. It's like putting up sandbags to protect your house from a flood – it might not be a perfect solution, but it can help to minimize the damage.
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