Topic: Landsbanki Islands hf
Iceland's President Olafur Ragnar Grimsson refused to sign legislation that would put taxpayers on the hook for $5 billion in banking losses. Yesterday, he won a record fifth term in office.
The Iceland financial crisis could intensify after a presidential veto of a bill to repay Britain and the Netherlands the billions they lost after Icelandic banks collapsed. The issue now goes to referendum – and could affect an EU membership bid and economic aid.
01/06/2010 10:24 am
Protests in the capital escalated Tuesday and Wednesday with calls for the prime minister and Central Bank head to resign.
01/21/2009 12:00 am
The country's banks expanded greatly during boom years and now can't roll over the debt.
10/24/2008 01:00 am