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
Palestinian sources reported that groups of settlers gathered at the entrance of Deir Jarir, east of...
A massive fire tore through a high-rise housing complex in Hong Kong on Wednesday into Friday,...
On 10 October, following two years of Israeli genocide that have turned Gaza into the new...
Former Philippine President Rodrigo Duterte will remain in detention at the International Criminal Court after appeals...
