Blog > Archive by tag 'iceland'
The markets were forced to endure one round of default swap payouts last week. Now, the debt from three more companies will hit the auction blocks. Even more trouble is on the way.
By Andrew Snyder
Baltimore – (TFN): On a micro level, yesterday’s 900-point rally looks like a big deal. Many short-sighted investors look at [...]
It may be a nice place to live, as long as you don’t mind the cold… or the dark, but Iceland could be the first country to declare bankrupcy in the credit crisis. Will the country previously said to have the "highest standard of living in the world" collapse under the weight of its own [...]
Tags: bankruptcy, credit crisis, damian reece, david stevenson, debts, gdp, iceland, leverage, mobile telephones, property, sovereign hedge fund, stock values, telegraph, U.N.
“Banks all over the world have spent much of the few years bingeing on cheap money, but Iceland’s taken the whole thing to quite an extreme. Its big players – the likes of Landsbanki and Kaupthing – have been on an extraordinary borrowing spree, sucking in vast quantities of cash to fund lending and acquisitions [...]