Iceland's financial crisis spreads - 7 OCT 2008

Just 24 hours after Iceland's prime minister introduced emergency legislation giving his government sweeping new powers over the financial sector, the country has nationalised its second largest bank.

The bailout of Landsbanki comes after trading in shares of major banks was suspended on Monday - and the exchange rate of the Icelandic Krona was fixed - after it lost a quarter of its value against the euro. Sylvia Lennan reports.

Category:

News & Politics

Tags:

• al
• jazeera
• aljazeera
• landsbanki
• sylvia
• lennan
• iceland
• banks

[checkerblob]

England is the next Iceland.

[azazel0783]

this crisis was created purposely to get the world into massive debt, then that debt wud be swapped for land and these private banksters will own the world. Wake up ppl. global warming is also a scam,the earth is warming bacause of the sun magnetic cycle,look it up!!! jus another scam on the stage called earth

[inayat26]

This video is representative of the typical IMF view - not addressing its own actions in this crisis, talking in patronising tones and a complete lack of being brought to book for this. IMF = #FAIL. To the people of Iceland, well done voting in Jon Gnarr!

[Feuerbach92]

Today the population of Iceland votes against the amortization of debts to United Kingdom and the Netherlands.

The people has to respect this decision and its comprehendsible because the people in iceland shouldn´t pay due to the mistakes of their banks. It wasn´t the fault of the icelanders its was the fault of the banks

In Europe and global we need clear rules for the banks that something else never ever can happened I hope our politicans can handle this Greets and best wishes from Germany

[ajgolfer1]

@YUNAN87 we know you dont pay you want everything for free because your greek.

[YUNAN87]

we don't pay, say no to the bank thieves.

greetings from greece

[NorceCodine]

Just wonderful. Our allies are arguing over who elected the first gay/lesbian prime minister, as a matter of pride. Yep, western civilisation is the one, folks !!

[Znale]

Iceland will have to pass this repayment bill, otherwise the country will be in great trouble financially. It is a burden for Iceland, yes, but it has to be said. The Icelandic people are understandably bitter that they have to pay for the banks mistakes, but it is absolutely necessary if they want to stay financially alive.

The Icelandic people need to look at this with a broader and longer perspective.

[IcelandPride]

Iceland haters kiss my ass next to you ass!