93 - Echo from a Collapse

In 1993, the Faroe Islands faced one of the most dramatic and under-reported financial collapses in Nordic history. After years of rapid growth, the country’s two largest banks failed, triggering mass bankruptcies, evictions, and emigration. At the center stood Marita Petersen – the Faroe Islands' first female Prime Minister – tasked with averting total collapse. Under intense pressure, she negotiated with Denmark, managed deep internal party rifts, and made decisions that saved the nation but cost her everything.

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