Iceland's new prime minister on Monday asked the country's three central bank governors to tender their resignations in the wake of the country's economic meltdown, she said in an interview. "I have requested that they resign immediately and enter discussions on their departure," Prime Minister Johanna Sigurdardottir said in a televised interview with Iceland National Radio. "I sent them a letter this afternoon," she added. Many Icelanders have held central bank chief David Oddsson, 61... Read Full Story
Author: Adam
Subject: Iceland's Government topples
Posted: Mon Jan 26, 2009 12:22 pm (GMT -4)
Topic Replies: 1
Iceland's government topples amid financial mess
"REYKJAVIK, Iceland Iceland's coalition government collapsed Monday, leaving the island nation in political turmoil amid a financial crisis that has pummeled its economy and required an international bailout to keep the country afloat.
Prime Minister Geir Haarde said he was unwilling to meet demands from his coalition... Read Full Story
by Eric deCarbonnel Bloomberg reports that Icelanders take to streets to protest policy makers' failures: (emphasis mine) Icelanders Take to Streets to Protest Policy Makers' Failures By Helga Kristin Einarsdottir and Tasneem Brogger Nov. 15 (Bloomberg) -- Icelanders demanding the resignation of Prime Minister Geir Haarde and central bank governor David Oddsson marched to the parliament today to protest the leaders they hold responsible for the collapse of the nation's economy. About 6,000... Read Full Story
by Svanborg Sigmarsdottir REYKJAVIK (AFP) -- Iceland jacked up its key interest rate to 18 percent and said it was seeking help from the European Central Bank and the US Federal Reserve in twin moves Tuesday to stave off national bankruptcy. "Iceland's central bank sent a request to the ECB, the Fed and the Nordic banks on Friday," Icelandic Prime Minister Geir Haarde told reporters in Helsinki where Nordic leaders were meeting. Haarde said Iceland had not yet received replies to its... Read Full Story
The Age Iceland
said on Monday state-controlled Kaupthing Bank was suing Britain over a
decision to place the bank's British arm in administration, potentially
reigniting a simmering diplomatic row. The British Treasury
placed Kaupthing Singer and Friedlander in administration on Oct 8, at
the height of Iceland's financial crisis, saying it was doing so to
protect British retail depositors. A day later, Iceland took
control of Kaupthing, the last of the three biggest commercial banks
taken... Read Full Story
Prime Minister Geir Haarde on Friday called early national elections for May 9 and said he will not seek re-election because he has a throat tumor. Haarde, 57, said he will stand down as leader of the Independence Party. Details of the election would be discussed with party leaders over the weekend, he said. Haarde did not have to call one until 2011 and Icelandic law does not require an election if the leader stands down, but his announcement came after frequent anti-government protests in... Read Full Story
by Eric deCarbonnel The Guardian reports that Icelanders demand PM resignation, clash with police: (emphasis mine) Icelanders demand PM resignation, clash with police Reuters, Saturday November 22 2008 REYKJAVIK, Nov 22 (Reuters) - Thousands of Icelanders demonstrated in Reykjavik on Saturday demanding the resignation of Prime Minister Geir Haarde and Central Bank Governor David Oddsson for failing to stop a financial meltdown in the country. It was the latest in a series of protests in the... Read Full Story
Iceland is a country with a temperate climate that belies its forbidding name. Its population of little more that 300,000 is about one seventh of the population of Brooklyn. There is a sense of fraternity in such a small population that can only be imagined by citizens of larger countries. Years ago I read an article about capital punishment that described an Icelander who was convicted of murder and dined with the judge at his home upon his release. This is not a country given to gratuitous... Read Full Story
by Eric deCarbonnel eNews reports on IIceland after its financial collapse: (emphasis mine) Icelanders in shock after financial crisis By eNews 2.0 Staff 15:22, November 18th 2008 Karlheinz Bellmann went to Iceland to find out what had happened to his savings of 110,000 euros (138,000 dollars), missing since the collapse of the country's Kaupthing Bank. Four days later, on his way back to Germany, the father of four had other matters on his mind: "What can one do to help the people here... Read Full Story
BLOOMBERG Oct. 28 (Bloomberg) -- Iceland's central bank unexpectedly
raised the benchmark interest rate to 18 percent, the highest in
at least seven years, after the island reached a loan agreement
with the International Monetary Fund.
Policy makers raised the key rate by 6 percentage points, the
Reykjavik-based bank said in a statement today, taking the rate to
the highest since the bank began targeting inflation in 2001.
``I don't think 6 percentage points will make the krona any
more... Read Full Story
