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
Israeli settlers on Sunday launched a series of widespread attacks across the West Bank, setting on...
Benjamin Netanyahu said on Sunday that Zohran Mamdani, the New York City mayor, is “fomenting hate”...
Luxembourg will not renew its approval for the sale of Israel Bonds in the European Union,...
