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
I had been working on Exeter University’s Ukrainian Wartime Poetry project for two years when the invitation...
President Trump said Tuesday that the U.S. struck another small boat that he accused of carrying...
The Nobel prize in literature for 2025 has been awarded to the Hungarian author László Krasznahorkai,...
