All Entries Tagged With: "iceland"
Troubled Iceland: Interest Rate increased to 18 Percent
Iceland’s central banks have increased its key interest rate from 12 percent to 18 percent as it tries to save the country from a total financial collapse. This Icelandic rate jump comes less than two weeks after they cut the rates from 15.5 percent.
Iceland’s Prime Minister said in a meeting with other Nordic countries that [...]
Britain gives Landsbanki a £100 million loan
Landsbanki the failed Icelandic bank that was nationalized by the Icelandic government will be given a £100 million bailout from the Bank of England the Chancellor Alistair Darling announced today, to help its British savers to recoup their deposits from the failed bank in Iceland.
Mr Darling has been in talks with the Icelandic Authorities to [...]
Update: Britain in Iceland urgent talks
The UK government has been using anti-terror laws to seize Icelandic assets to pay back British savers, after the near collapse of Iceland and the crash of its banking system caused concern that Iceland will become bankrupt. It was revealed that the British government has seized
Icelandic UK assets frozen as British Authorities to lose £1bn
Prime Minister Gordon Brown announced that he would take further action and seize the assets of Icelandic companies over the collapse of the Island’s banks. After the failure of Lansbanki, Kaupthing and Glitni Kaupthing a diplomatic row has began as it emerged that over 100 local authorities have money in Iceland and they are set [...]
Could Iceland Face Bankruptcy? Casualty of global financial crisis
Iceland the tiny Island home to just 304,000 people and has now become the biggest victim of the global financial crisis.
Kaupthing, Iceland’s largest bank was taken for government control on October 9. Kaupthing will
Iceland falls hard government takes control
It is now Iceland’s turn to be swept up in the financial turmoil that’s been hitting everywhere in the world, the Icelandic government issued a statement saying it has taken control of Landsbanki the lead Icelandic financial institution, Icesave the internet bank has also been affected as it is part of Landsbanki banking brand stopping [...]