Iceland's financial crisis spreads - 7 OCT 2008
- 12 years ago
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.
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.