business.timesonline.co.uk - 10/7/2008
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The Icelandic Government seized control of the country s biggest banks last night in an attempt to fend off wholesale economic collapse. Turmoil at the banks, whose shares were suspended by the Government yesterday afternoon, had sparked panic in the tiny state, which has a population of ...
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naked capitalism —
Mammals facing extinction threat BBC Sumo schoolgirl hopes for glory at world championships Telegraph Australian jet plunge injures 40 BBC. Qantas has never killed anyone, but they seem to be coming increasingly close to doing so. Are Bad Times Healthy? New York Times You’re Owed Euros David Merkel Lehman Said to Cancel Ex-Employees' Severance After Bankruptcy Bloomberg Terror as Iceland faces economic collapse Times Online Car buyers desert the showrooms Independent ...
That didn't last long
Macro Man —
... Whoops. That didn't last long. Iceland is imploding; its banks are dropping like flies, and EUR/ISK has traded as high as 350 today. Anyone wanna buy ...
iceland collapsing
Decline and Fall of Western Civilization —
from the times -- the death of the carry trade. this seems trivial -- iceland? seriously? -- but a banking collapse here will feed back through britain and around the world. Icelandic banks have lent hundreds of billions of pounds overseas and their position in the world’s financial system far outweighs the size of the country’s tiny economy, the GDP of which was only $20 billion last year. The country’s banks have been under pressure for most of the year, struggling with rampant inflation, the collapsing value of the currency and fallout ...
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dealbook.blogs.nytimes.com 10/9/2008 — Iceland’s stock exchange on Thursday suspended trading in all shares citing unusual market conditions after the country moved to take over its largest lender, Kaupthing Bank, the third bank to fall in state ownership in a week.
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Iceland seizes Kaupthing as meltdown continues
business.timesonline.co.uk 10/9/2008 — Crisis-hit Iceland has taken control of Kaupthing, its biggest bank, and suspended trading on its stock exchange for two days. With the nationalisation of Kaupthing, the Icelandic Government now has control of all three of the country's big banks ...
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