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1Vote!

Fear on streets of Reykjavik as country can only go to IMF for financial bailout

Iceland may be the target of British opprobrium right now, but on the streets of Reykjavik, citizens are more concerned about their own increasingly dire situation. The collapse of the country's banking system and, along with it, the economy, is steadily affecting ever more of the 320,000 people who live on the North Atlantic island.

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Reykjavik flea market

A couple of weeks ago I was taking a late evening breakfast at Manchester Airport before jetting off to ‘what the United Nations reckons is the most developed country in the world’. Our destination (from which I’ve been back a week) was, of course, Iceland which earned that ranking thanks to its people enjoying [...]

1Vote!

Iceland bank collapse The hunt for Geir Haarde the most wanted man in Reykjavik

The hunt for the most wanted man in Reykjavik began at dawn.

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Reykjavik: Iceland Hotel Guide: Sweet Suites at The Hotel Borg

HotelChatter contributing editor Tim Leffel is braving the erratic weather of Iceland and reporting on the local hotel scene this week. Most hotels are listed in euros or kroners, but prices have been converted into dollars, which are actually worth something there right now. There are no frightening alien cyborgs at Reykjavik's Hotel Borg , which is in most respects the best in the city. When most...

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Retail: Philip Green steps in to save Baugur

British retail tycoon jets to Reykjavik in dramatic bid to seize control of ailing Icelandic retail giretailant

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Welcome to Iceland: Despite the crunch, it's still worth a visit

"There has never been a cheaper time to visit colourful Reykjavik," proclaims an opportunistic press release from Icelandic Express, the island's answer to easyJet. With the krona down 40 per cent since last year, it says (failing to point out that most of this fall has taken place in the past week or two), a pint of beer now costs only £4, down from £6.50, and a three-course meal is £35, compared...

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Joint Declaration

Delegations of Iceland and the United Kingdom have met in a friendly atmosphere in Reykjavík to discuss issues of mutual interest related to the current financial crisis, with the objective to reach.. - Read more

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Britain-Iceland talks on frozen funds begin

REYKJAVIK (Reuters) - Talks between Britain and Iceland on the fate of an estimated 1 billion pounds of British deposits trapped in Iceland's banks began on Saturday and are expected to last through the weekend, a government spokeswoman said.

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FINANCIAL CRISIS: Iceland seeks to allay European depositor fears

Icelandic and British officials are meeting in Reykjavik to resolve a dispute over UK investments as the Nordic country reached an agreement with the Netherlands.

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Britain starts fight for billions trapped in Iceland

Friday is party night in the Icelandic capital of Reykjavik and not even the country’s financial collapse last week could keep young Icelanders from their Viking beers. As midnight passed, a steady stream of Porsches, BMWs, Audis and Ford Mustangs cruised down Laugavegur, the boutique-filled shopping avenue that had come to symbolise Iceland’s emergence as Europe’s coolest capital.

1Vote!

Iceland, Britain agree in principle on Icesave

REYKJAVIK (Reuters) - Iceland and Britain said on Saturday they had made "significant progress" and agreed in principle on an accelerated payout to retail depositors of failed Landsbanki's Icesave bank.

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Today's Picture

This is from a demonstration in the Icelandic capital Reykjavik, where people are staging a protest against the Icelandic central bank (Taken from the front page of Dagens Nyheter's economic section where it now appears but will probably soon disappear. Strangely, they don't have it in the story it links to) These protesters probably don't have the reason for blaming the central bank right, but

43Vote!

Iceland's banking crisis threatens Britain

REYKJAVIK, Iceland, Oct. 11 (UPI) -- Officials from the British Treasury and their Icelandic counterparts began talks Friday on rescuing some of the money from Britain invested in banks in Iceland. Icelandic Prime Minister Geir Haarde tried to reassure the British, The Scotsman reported. We will honor our obligations, he said. We need some support from the UK authorities in order to be able to do...

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Deal sought for UK-Iceland funds

A UK Treasury delegation is in Reykjavik in a bid to resolve the dispute over UK funds invested in failed Icelandic banks.

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Iceland says will meet obligations despite meltdown

REYKJAVIK (Reuters) - Iceland sought Friday to reassure international investors caught in its banking meltdown, saying it aimed to meet its obligations despite the turmoil which has ravaged a once-vibrant financial sector.