Once-Prosperous Iceland Could Be The First “National Bankruptcy”

By: admin
Published: November 30th, 2008

From CBS (october 7, 2008)

Last year, Iceland won the U.N.’s “best country to live in” poll, with its residents deemed the most contented in the world

But today the government had earlier announced it had nationalized the banks under emergency laws enacted to deal with the crisis.

From BBC (November 29, 2008)

The annual rate of inflation in Iceland has escalated to a record high of 17.1% as the country battles the worst financial crisis in its history

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