Iceland bankruptcy

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Iceland and Greenland Discuss Adopting the Canadian Dollar as National Currency

The economic downturn has claimed many victims: individual citizens, corporations, countries and potentially entire monetary unions (such as Greece in the euro). Iceland is no stranger to economic hardship, becoming the first nation to declare sovereign bankruptcy in years when it did so in 2008. In order to jumpstart the economy, use of the loonie […]

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Former Icelandic Prime Minister Geir Haarde on Trial over Charges of Negligence in the 2008 Financial Crisis

Iceland’s former Prime Minister Geir Haarde is the first world leader to be brought to trial for his handling of the 2008 financial crisis that bankrupted Iceland and saw the collapse of the country’s three largest banks. Geir Haarde’s response to the serious charges levied against him in Reykjavik are that he is the victim […]

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