Last week, the country's third largest bank was nationalised. This week, the government dismissed the board of directors of Landsbanki, its second-largest bank, and put it into receivership. On Monday, the Prime Minister, Geir Haarde, warned its citizens the country faces bankruptcy.
Iceland, with a population the size of Bristol, is rated by the UN as the most developed society on earth. But it now faces less welcome distinction as the country worst exposed to the credit crunch, with banking debts several times bigger than its economy.
Iceland: dancing on the brink of bankruptcy
President Volodymyr Zelensky has ordered government authorities to prepare a new sanctions operation against Russia’s military...
President Volodymyr Zelensky spoke with NATO Secretary General Mark Rutte on Wednesday to press for urgently...
Iran's parliament is reviewing a plan to ban ships linked to the U.S., Israel and other...
Donald Trump’s legal team is making an 11th-hour attempt to block a court order that would...
