Friday, Nov 27th

Last update09:59:08 PM GMT

You are here News International Iceland: dancing on the brink of bankruptcy

Iceland: dancing on the brink of bankruptcy

E-mail Print PDF

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.


Most Recent Related Stories...

ISIS Affiliate Claims Bangladesh Mosque Attack

Bangladesh mosque attack by ISISAn Islamic State group affiliate in Bangladesh said Friday it was behind an attack on a...

HSBC whistleblower Falciani sentenced to five years in prison

Falciani, HSBC whistleblowerHerve Falciani, an ex-employee of HSBC's (HSBA.L) Geneva private bank who leaked information on clients and...

Senior El Salvador priest fired over alleged sex with minor

Jesus DelgadoEl Salvador's Roman Catholic Church said on Thursday it had fired a senior priest and former...

Polish cargo ship attacked off Nigeria; 5 abducted

Polish cargo ship seizedPirates operating off the coast of Nigeria have taken hostage five Polish sailors, including the captain...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!