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 a major expansion in the production and deployment of ground robotic...
Two Israeli political heavyweights on Sunday said they would join forces in upcoming elections in a...
King Charles III and Queen Camilla landed in the United States on Monday, April 27, kicking...
Palestinians began voting in local elections on Saturday, April 25, marking the first time in nearly...
