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
A bill "aimed at combating renewed forms of antisemitism", which is due to be debated on...
President Volodymyr Zelensky announced that Ukraine and Saudi Arabia have reached an important agreement on defense...
A group of anti-war, US military veterans have slammed what they say are Israeli interests guiding...
Law enforcement officers foiled a plot to assassinate New York-based Palestinian American activist Nerdeen Kiswani and...
