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Downtown Reykjavik City, Iceland FINANCIAL CRISIS ~ oops
Where is Iceland?
The capital Downtown Reykjavik:
The financial news there is rocky, very rocky...Iceland's economy is on the brink of collapse, after the krona
fell 27 per cent against the dollar last week. The fall sent fresh
shockwaves through the UK financial system, as Icelandic banks
have invested billions in the British economy. One of the biggest,
Kaupthing, is estimated to have underwritten about £3bn in debt
to finance deals in this country, and just two of the banks have
more than 150,000 British internet customers.
1 comment:
Iceland has acted like, and been treated like a hedge fund for ages now.
This crisis became a certainty early this year, I'm suprised anyone has stuck with Icelandic banks.
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