-
How Iceland responded to its banking collapse
The crash of 2008 put the economies of many nations on ice, but few took a harder hit than Iceland. Years later, as the "Panama Papers" leak demonstrates, politicians and bankers are still paying the price. Iceland's economy has recovered, and for many citizens, how the nation of 330,000 dealt with the financial crisis was the right way. Martha Teichner reports.
published: 10 Apr 2016
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Iceland bank heads appear in court
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The former president of what was once Iceland's biggest bank has appeared in court in Reykjavik to face fraud charges. He and eight other executives are accused of manipulating the share price of Kaupthing, one of three Icelandic banks that collapsed after the failure of the US housing market. Al Jazeera's Tim Friend reports from Reykjavik.
published: 24 Apr 2013
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Iceland president: Let banks go bankrupt
Subscribe to our channel http://bit.ly/AJSubscribe
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Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 millio...
published: 25 Jan 2013
-
Iceland's financial crisis spreads - 7 OCT 2008
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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.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust...
published: 07 Oct 2008
-
How Iceland's Bankers Plunged Their Country Into Financial Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
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published: 24 Jun 2016
-
Iceland's ex-PM faces trial over banks crisis
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Iceland's former Prime Minister is to go on trial for his role in the country's 2008 bank crisis.
Al Jazeera's Rory Challands reports from the capital, Reyjavik.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are...
published: 05 Mar 2012
-
Special Report: Iceland: Bankers Behind Bars
Iceland is the only country which sent bankers to prison after the financial crisis 10 years ago.
Sky's Adam Parsons speaks to one of the most senior imprisoned bankers and the man responsible for putting him there, among others, in this special report.
SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews
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published: 12 Sep 2017
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Iceland announces Russian loan, nationalizes bank
(7 Oct 2008) SHOTLIST
1. Various exteriors of Landsbanki headquarters
2. Mid shot of entrance
3. Close up of people walking out of entrance
4. Exterior shots of Parliament building
5. Prime Minister of Iceland, Geir H. Haarde walking into news conference
6. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"The legislation that we introduced yesterday was passed by the parliament last night. We think that is a very important step in our efforts to stabilise the situation here and make sure that we have a functioning bank system. And also showing that we are preoccupied. Our primary concern is the sustainability of the banking system as well as the best interests of the Icelandic people."
7. Cutaway
8. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
...
published: 21 Jul 2015
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Iceland to charge ex-Kaupthing bank chief with fraud
http://www.euronews.com/ The former head of Iceland's biggest bank, Kaupthing, will be charged next month for his role in its collapse in 2008.
Heidar Mar Sigurdsson has been accused of fraud for manipulating the bank's share price whilst pocketing 325 million kroner in the process.
Special Prosecutor Olafur Thor Hauksson announced that charges would be made on April 24th against Mr Sigurdsson and eight other employees in Reykjavik. Justice will not be swift as the case could take up to one year.
It marks a new round of charges in the criminal investigation set up to probe those involved in the financial meltdown in 2008. Two bank executives have already faced jail terms for their conduct leading to the crisis.
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published: 26 Mar 2013
-
How Iceland Became A Symbol Of The 2008 Financial Crisis
Iceland - The Sinking Island (2008): A look at the 2008 Icelandic collapse from the inside.
For similar stories, see:
Fast Money, Big Bust (2010):
https://youtu.be/uCx_wPbUJhE
Hook Line and Sunk (2009):
https://youtu.be/r7InlN2x08Q
Hydrogen Economy (2003):
https://youtu.be/U79CWDtdZOA
Subscribe to journeyman for daily uploads:
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https://www.journeyman.tv/film/4238/iceland-the-sinking-island
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Now Iceland is one of the first countries to go bankrupt.
Icelands bars are the countrys only suc...
published: 27 May 2016
5:49
How Iceland responded to its banking collapse
The crash of 2008 put the economies of many nations on ice, but few took a harder hit than Iceland. Years later, as the "Panama Papers" leak demonstrates, poli...
The crash of 2008 put the economies of many nations on ice, but few took a harder hit than Iceland. Years later, as the "Panama Papers" leak demonstrates, politicians and bankers are still paying the price. Iceland's economy has recovered, and for many citizens, how the nation of 330,000 dealt with the financial crisis was the right way. Martha Teichner reports.
https://wn.com/How_Iceland_Responded_To_Its_Banking_Collapse
The crash of 2008 put the economies of many nations on ice, but few took a harder hit than Iceland. Years later, as the "Panama Papers" leak demonstrates, politicians and bankers are still paying the price. Iceland's economy has recovered, and for many citizens, how the nation of 330,000 dealt with the financial crisis was the right way. Martha Teichner reports.
- published: 10 Apr 2016
- views: 13249
1:19
Iceland bank heads appear in court
Subscribe to our channel http://bit.ly/AJSubscribe
The former president of what was once Iceland's biggest bank has appeared in court in Reykjavik to face fra...
Subscribe to our channel http://bit.ly/AJSubscribe
The former president of what was once Iceland's biggest bank has appeared in court in Reykjavik to face fraud charges. He and eight other executives are accused of manipulating the share price of Kaupthing, one of three Icelandic banks that collapsed after the failure of the US housing market. Al Jazeera's Tim Friend reports from Reykjavik.
https://wn.com/Iceland_Bank_Heads_Appear_In_Court
Subscribe to our channel http://bit.ly/AJSubscribe
The former president of what was once Iceland's biggest bank has appeared in court in Reykjavik to face fraud charges. He and eight other executives are accused of manipulating the share price of Kaupthing, one of three Icelandic banks that collapsed after the failure of the US housing market. Al Jazeera's Tim Friend reports from Reykjavik.
- published: 24 Apr 2013
- views: 3626
2:58
Iceland president: Let banks go bankrupt
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Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazee...
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
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https://wn.com/Iceland_President_Let_Banks_Go_Bankrupt
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
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- published: 25 Jan 2013
- views: 45898
1:58
Iceland's financial crisis spreads - 7 OCT 2008
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Just 24 hours after Iceland's prime minister introduced emergency legislation giving his government sweeping...
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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.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
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google+: https://plus.google.com/+aljazeera/posts
https://wn.com/Iceland's_Financial_Crisis_Spreads_7_Oct_2008
Subscribe to our channel http://bit.ly/AJSubscribe
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.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
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google+: https://plus.google.com/+aljazeera/posts
- published: 07 Oct 2008
- views: 25517
24:01
How Iceland's Bankers Plunged Their Country Into Financial Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Fi...
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
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Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.
Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: "I'm going to lose my flat. I'm going to get bankrupt. All because of the way things were handled here." Turning a blind eye, the government let banks grow ten times the size of the country's GDP. Very little profits were made from actual banking. "Banks only grew by spending other people's money, especially that of the British. It's one of the greatest Ponzi schemes in history," says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: "If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis."
ABC Australia – Ref. 4557
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
https://wn.com/How_Iceland's_Bankers_Plunged_Their_Country_Into_Financial_Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
Subscribe to journeyman for daily uploads:
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For downloads and more information visit:
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Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.
Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: "I'm going to lose my flat. I'm going to get bankrupt. All because of the way things were handled here." Turning a blind eye, the government let banks grow ten times the size of the country's GDP. Very little profits were made from actual banking. "Banks only grew by spending other people's money, especially that of the British. It's one of the greatest Ponzi schemes in history," says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: "If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis."
ABC Australia – Ref. 4557
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
- published: 24 Jun 2016
- views: 27434
2:18
Iceland's ex-PM faces trial over banks crisis
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland's former Prime Minister is to go on trial for h...
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland's former Prime Minister is to go on trial for his role in the country's 2008 bank crisis.
Al Jazeera's Rory Challands reports from the capital, Reyjavik.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
Twitter: https://twitter.com/ajenglish
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https://wn.com/Iceland's_Ex_Pm_Faces_Trial_Over_Banks_Crisis
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland's former Prime Minister is to go on trial for his role in the country's 2008 bank crisis.
Al Jazeera's Rory Challands reports from the capital, Reyjavik.
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
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google+: https://plus.google.com/+aljazeera/posts
- published: 05 Mar 2012
- views: 1833
15:02
Special Report: Iceland: Bankers Behind Bars
Iceland is the only country which sent bankers to prison after the financial crisis 10 years ago.
Sky's Adam Parsons speaks to one of the most senior imprisone...
Iceland is the only country which sent bankers to prison after the financial crisis 10 years ago.
Sky's Adam Parsons speaks to one of the most senior imprisoned bankers and the man responsible for putting him there, among others, in this special report.
SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews
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https://wn.com/Special_Report_Iceland_Bankers_Behind_Bars
Iceland is the only country which sent bankers to prison after the financial crisis 10 years ago.
Sky's Adam Parsons speaks to one of the most senior imprisoned bankers and the man responsible for putting him there, among others, in this special report.
SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews
Follow us on Twitter: https://twitter.com/skynews and https://twitter.com/skynewsbreak
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- published: 12 Sep 2017
- views: 52856
2:57
Iceland announces Russian loan, nationalizes bank
(7 Oct 2008) SHOTLIST
1. Various exteriors of Landsbanki headquarters
2. Mid shot of entrance
3. Close up of people walking out of entrance
4. Exterior shot...
(7 Oct 2008) SHOTLIST
1. Various exteriors of Landsbanki headquarters
2. Mid shot of entrance
3. Close up of people walking out of entrance
4. Exterior shots of Parliament building
5. Prime Minister of Iceland, Geir H. Haarde walking into news conference
6. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"The legislation that we introduced yesterday was passed by the parliament last night. We think that is a very important step in our efforts to stabilise the situation here and make sure that we have a functioning bank system. And also showing that we are preoccupied. Our primary concern is the sustainability of the banking system as well as the best interests of the Icelandic people."
7. Cutaway
8. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"Today I made it public that we had been talking to Russia about a currency loan. We will be sending people to Moscow today or tomorrow to negotiate with Russia on the terms and conditions and so on, on this loan that will be an addition to our foreign currency reserves and not intended to be lent onwards to any financial institution. We think that Russia is taking a very friendly position on this and we are very pleased that this announcement was made this morning."
9. Cutaway
10. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"The idea of what we are doing here is to separate the domestic operations of the banks who are in trouble, bank or banks, from the international operations. But that will continue to the extent possible. I'm not aware of the particular details as far as Icesave is concerned."
11. Haarde leaving room
12. Various of newspaper headlines
STORYLINE
Iceland has nationalised its second-largest bank under day-old emergency legislation and says it is negotiating a euro 4 billion (5.4 (b) billion US dollar) loan from Russia to shore up the nation's finances amid a full-blown financial crisis.
The central bank has also loaned euro 500 (m) million (680 (m) million US dollars) to Kaupthing, the country's biggest bank.
As the government scrambled to gain control, the central bank first announced that it had secured the Russian loan, then backtracked and said the countries had agreed to open talks on "financial issues" soon.
The takeover of Landsbanki came a day after trading in shares of major banks was suspended, the Icelandic krona lost a quarter of its value against the euro, and the government rushed through emergency legislation giving it sweeping powers to deal with the financial meltdown.
"Our primary concern is the sustainability of the banking system as well as the best interests of the Icelandic people," Iceland's Prime Minister Geir H. Haarde said on Tuesday.
He also said Russia was taking "a very friendly position" with regards to talks over a possible loan.
A loan from Russia would support the government's efforts to gain control of an increasingly dire financial situation, which saw the government coming to rescue of the third-largest bank, Glitnir, only last week.
Prime Minister Geir H. Haarde warned late on Monday that the heavy exposure of the tiny country's banking sector to the global financial turmoil raised the spectre of "national bankruptcy."
Meanwhile, Iceland's largest bank, Kaupthing said on Tuesday that it has received a 680 (m) million US dollar loan from the Icelandic central bank.
But said it has not been approached by the country's financial regulator about any possible state intervention.
Bank assets are nine times annual gross domestic product of 19 (b) billion US dollars.
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https://wn.com/Iceland_Announces_Russian_Loan,_Nationalizes_Bank
(7 Oct 2008) SHOTLIST
1. Various exteriors of Landsbanki headquarters
2. Mid shot of entrance
3. Close up of people walking out of entrance
4. Exterior shots of Parliament building
5. Prime Minister of Iceland, Geir H. Haarde walking into news conference
6. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"The legislation that we introduced yesterday was passed by the parliament last night. We think that is a very important step in our efforts to stabilise the situation here and make sure that we have a functioning bank system. And also showing that we are preoccupied. Our primary concern is the sustainability of the banking system as well as the best interests of the Icelandic people."
7. Cutaway
8. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"Today I made it public that we had been talking to Russia about a currency loan. We will be sending people to Moscow today or tomorrow to negotiate with Russia on the terms and conditions and so on, on this loan that will be an addition to our foreign currency reserves and not intended to be lent onwards to any financial institution. We think that Russia is taking a very friendly position on this and we are very pleased that this announcement was made this morning."
9. Cutaway
10. SOUNDBITE: (English) Geir H. Haarde, Prime Minister of Iceland:
"The idea of what we are doing here is to separate the domestic operations of the banks who are in trouble, bank or banks, from the international operations. But that will continue to the extent possible. I'm not aware of the particular details as far as Icesave is concerned."
11. Haarde leaving room
12. Various of newspaper headlines
STORYLINE
Iceland has nationalised its second-largest bank under day-old emergency legislation and says it is negotiating a euro 4 billion (5.4 (b) billion US dollar) loan from Russia to shore up the nation's finances amid a full-blown financial crisis.
The central bank has also loaned euro 500 (m) million (680 (m) million US dollars) to Kaupthing, the country's biggest bank.
As the government scrambled to gain control, the central bank first announced that it had secured the Russian loan, then backtracked and said the countries had agreed to open talks on "financial issues" soon.
The takeover of Landsbanki came a day after trading in shares of major banks was suspended, the Icelandic krona lost a quarter of its value against the euro, and the government rushed through emergency legislation giving it sweeping powers to deal with the financial meltdown.
"Our primary concern is the sustainability of the banking system as well as the best interests of the Icelandic people," Iceland's Prime Minister Geir H. Haarde said on Tuesday.
He also said Russia was taking "a very friendly position" with regards to talks over a possible loan.
A loan from Russia would support the government's efforts to gain control of an increasingly dire financial situation, which saw the government coming to rescue of the third-largest bank, Glitnir, only last week.
Prime Minister Geir H. Haarde warned late on Monday that the heavy exposure of the tiny country's banking sector to the global financial turmoil raised the spectre of "national bankruptcy."
Meanwhile, Iceland's largest bank, Kaupthing said on Tuesday that it has received a 680 (m) million US dollar loan from the Icelandic central bank.
But said it has not been approached by the country's financial regulator about any possible state intervention.
Bank assets are nine times annual gross domestic product of 19 (b) billion US dollars.
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- published: 21 Jul 2015
- views: 443
0:49
Iceland to charge ex-Kaupthing bank chief with fraud
http://www.euronews.com/ The former head of Iceland's biggest bank, Kaupthing, will be charged next month for his role in its collapse in 2008.
Heidar Mar Sigu...
http://www.euronews.com/ The former head of Iceland's biggest bank, Kaupthing, will be charged next month for his role in its collapse in 2008.
Heidar Mar Sigurdsson has been accused of fraud for manipulating the bank's share price whilst pocketing 325 million kroner in the process.
Special Prosecutor Olafur Thor Hauksson announced that charges would be made on April 24th against Mr Sigurdsson and eight other employees in Reykjavik. Justice will not be swift as the case could take up to one year.
It marks a new round of charges in the criminal investigation set up to probe those involved in the financial meltdown in 2008. Two bank executives have already faced jail terms for their conduct leading to the crisis.
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https://wn.com/Iceland_To_Charge_Ex_Kaupthing_Bank_Chief_With_Fraud
http://www.euronews.com/ The former head of Iceland's biggest bank, Kaupthing, will be charged next month for his role in its collapse in 2008.
Heidar Mar Sigurdsson has been accused of fraud for manipulating the bank's share price whilst pocketing 325 million kroner in the process.
Special Prosecutor Olafur Thor Hauksson announced that charges would be made on April 24th against Mr Sigurdsson and eight other employees in Reykjavik. Justice will not be swift as the case could take up to one year.
It marks a new round of charges in the criminal investigation set up to probe those involved in the financial meltdown in 2008. Two bank executives have already faced jail terms for their conduct leading to the crisis.
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- published: 26 Mar 2013
- views: 759
9:44
How Iceland Became A Symbol Of The 2008 Financial Crisis
Iceland - The Sinking Island (2008): A look at the 2008 Icelandic collapse from the inside.
For similar stories, see:
Fast Money, Big Bust (2010):
https://yo...
Iceland - The Sinking Island (2008): A look at the 2008 Icelandic collapse from the inside.
For similar stories, see:
Fast Money, Big Bust (2010):
https://youtu.be/uCx_wPbUJhE
Hook Line and Sunk (2009):
https://youtu.be/r7InlN2x08Q
Hydrogen Economy (2003):
https://youtu.be/U79CWDtdZOA
Subscribe to journeyman for daily uploads:
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For downloads and more information visit:
https://www.journeyman.tv/film/4238/iceland-the-sinking-island
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Now Iceland is one of the first countries to go bankrupt.
Icelands bars are the countrys only success story of recent months. A lot of people come in now, says bartender Ludvig Ludvigsson, they drink because they feel that their lives are finished. Many of those coming in were previously wealthy bankers made unemployed by the crash. When the Landisank Bank went down it was particularly bad, recalls Ludvigsson. Senior policeman Geir Thorisson has also seen how fast things have changed since the banks defaulted in October. As money runs short theft is on the rise. But this is not the only problem the police face; protesters gather outside banks and government buildings and the mood often becomes violent. There are individuals who want go much further, to take down the entire administration, sack the parliament. In the docklands, construction sites for luxury flats lie abandoned next to the half-built National Opera House. Everyone is affected, says Rev Palmi Matthiasson. Kids listen to their parents whispering in the night time about losing their jobs, selling the house, how they will face the next day. And maybe we have not reached the bottom yet.
tv2 Norway – 4238
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
https://wn.com/How_Iceland_Became_A_Symbol_Of_The_2008_Financial_Crisis
Iceland - The Sinking Island (2008): A look at the 2008 Icelandic collapse from the inside.
For similar stories, see:
Fast Money, Big Bust (2010):
https://youtu.be/uCx_wPbUJhE
Hook Line and Sunk (2009):
https://youtu.be/r7InlN2x08Q
Hydrogen Economy (2003):
https://youtu.be/U79CWDtdZOA
Subscribe to journeyman for daily uploads:
http://www.youtube.com/journeymanpict...
For downloads and more information visit:
https://www.journeyman.tv/film/4238/iceland-the-sinking-island
Like us on Facebook:
https://www.facebook.com/journeymanpi...
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
Now Iceland is one of the first countries to go bankrupt.
Icelands bars are the countrys only success story of recent months. A lot of people come in now, says bartender Ludvig Ludvigsson, they drink because they feel that their lives are finished. Many of those coming in were previously wealthy bankers made unemployed by the crash. When the Landisank Bank went down it was particularly bad, recalls Ludvigsson. Senior policeman Geir Thorisson has also seen how fast things have changed since the banks defaulted in October. As money runs short theft is on the rise. But this is not the only problem the police face; protesters gather outside banks and government buildings and the mood often becomes violent. There are individuals who want go much further, to take down the entire administration, sack the parliament. In the docklands, construction sites for luxury flats lie abandoned next to the half-built National Opera House. Everyone is affected, says Rev Palmi Matthiasson. Kids listen to their parents whispering in the night time about losing their jobs, selling the house, how they will face the next day. And maybe we have not reached the bottom yet.
tv2 Norway – 4238
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
- published: 27 May 2016
- views: 7349