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Timeline Of The Icelandic Financial Crisis
The following is a timeline of the Icelandic financial crisis which began in earnest in mid September 2008. The combined assets of the three largest Icelandic banks amounted to ten times the country's total gross domestic product (GDP) at the time of their collapse. Two-thirds of the banks liabilities were denominated in a foreign currency. When the world's credit markets dried up, the banks were unable to refinance their loans and the government, as a lender of last resort, was unable to offer backing to the privately owned banks. September 2008 * 15 September Lehman Brothers bank goes bankrupt in the US, instantly freezing money markets around the world. * 25 September The chairman of the board of Glitnir bank, Thorsteinn Már Baldvinsson, meets with Central Bank of Iceland Governor, David Oddsson, to explain the severe financing difficulties the bank has encountered. The bank requests lender of last resort financing from the Central Bank. * 26 September Pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iceland Financial Crisis
Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its surrounding areas) is home to over 65% of the population. Iceland is the biggest part of the Mid-Atlantic Ridge that rises above sea level, and its central volcanic plateau is erupting almost constantly. The interior consists of a plateau characterised by sand and lava fields, mountains, and glaciers, and many glacial rivers flow to the sea through the lowlands. Iceland is warmed by the Gulf Stream and has a temperate climate, despite a high latitude just outside the Arctic Circle. Its high latitude and marine influence keep summers chilly, and most of its islands have a polar climate. According to the ancient manuscript , the settlement of Iceland began in 874 AD when the Norwegian chieftain Ingólfr Arnarson became the first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the world, with its internationally recognised territory covering , and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across Time in Russia, eleven time zones and shares Borders of Russia, land boundaries with fourteen countries, more than List of countries and territories by land borders, any other country but China. It is the List of countries and dependencies by population, world's ninth-most populous country and List of European countries by population, Europe's most populous country, with a population of 146 million people. The country's capital and List of cities and towns in Russia by population, largest city is Moscow, the List of European cities by population within city limits, largest city entirely within E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Icesave Dispute
The Icesave dispute was a diplomatic dispute between Iceland, and the Netherlands and the United Kingdom that began after the privately owned Icelandic bank Landsbanki was placed in receivership on 7 October 2008. As ''Landsbanki'' was one of three systemically important financial institutions in Iceland to go bankrupt within a few days, the Icelandic Depositors' and Investors' Guarantee Fund (''Tryggingarsjóður'') had no remaining funds to make good on deposit guarantees to foreign ''Landsbanki'' depositors who held savings in the Icesave branch of the bank. When ''Landsbanki'' was placed into receivership by the Icelandic Financial Supervisory Authority (FME), 343,306 retail depositors in the UK and Netherlands that held accounts in the "Icesave" branch of ''Landsbanki'' lost a total of €6.7bn of savings. Because no immediate repayment was expected by any Icelandic institutions, the Dutch and British ''national deposit guarantee schemes'' covered repayment up to the max ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Icelandic Finance Minister
Icelandic refers to anything of, from, or related to Iceland and may refer to: * Icelandic people * Icelandic language * Icelandic alphabet *Icelandic cuisine See also * Icelander (other) * Icelandic Airlines, a predecessor of Icelandair * Icelandic horse, a breed of domestic horse * Icelandic sheep The Icelandic is the Icelandic breed of domestic sheep. It belongs to the Northern European Short-tailed group of sheep, and is larger than most breeds in that group. It is thought that it was introduced to Iceland by Vikings in the late nint ..., a breed of domestic sheep * Icelandic Sheepdog, a breed of domestic dog * Icelandic cattle, a breed of cattle * Icelandic chicken, a breed of chicken {{disambig Language and nationality disambiguation pages ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Árni Matthiesen
Árni is an Icelandic given name of Old Norse () origin. Notable people with the name include: * Árni Gautur Arason (born 1975), Icelandic football goalkeeper * Árni Már Árnason (born 1987), Icelandic Olympic swimmer * Árni Páll Árnason (born 1966), Icelandic politician, Minister for Social Affairs * Árni beiskur (died 1253), Icelandic killer * Árni Brjánn Angantýsson (born 1989), Icelandic fisherman known for his superhuman strength * Árni Bergmann (born 1935), Icelandic novelist * Árni Frederiksberg (born 1992), Faroese football midfielder * Árni Helgason (c. 1260–1320), Icelandic Roman Catholic clergyman * Árni Johnsen (born 1944), Icelandic politician and criminal * Árni Björn Gestsson (born 1988), Icelandic engineer and activist known for his relentless fight to replace handshakes with hugs * Árni Lárentíusson (1304–after 1337), Icelandic prose writer * Árni Magnússon (1663–1730) was an Icelandic scholar and collector of manuscripts * Árni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor The Exchequer
Chancellor ( la, cancellarius) is a title of various official positions in the governments of many nations. The original chancellors were the of Roman courts of justice—ushers, who sat at the or lattice work screens of a basilica or law court, which separated the judge and counsel from the audience. A chancellor's office is called a chancellery or chancery. The word is now used in the titles of many various officers in various settings (government, education, religion). Nowadays the term is most often used to describe: *The head of the government *A person in charge of foreign affairs *A person with duties related to justice *A person in charge of financial and economic issues *The head of a university Governmental positions Head of government Austria The Chancellor of Austria, denominated ' for males and ' for females, is the title of the head of the Government of Austria. Since 2021, the Chancellor of Austria is Karl Nehammer. Germany The Chancellor of Germany, denom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alistair Darling
Alistair Maclean Darling, Baron Darling of Roulanish, (born 28 November 1953) is a British politician who served as Chancellor of the Exchequer under Prime Minister Gordon Brown from 2007 to 2010. A member of the Labour Party, he was a Member of Parliament (MP) from 1987 until he stepped down in 2015, most recently for Edinburgh South West. Darling was first appointed as Chief Secretary to the Treasury by Prime Minister Tony Blair in 1997, and was promoted to Secretary of State for Work and Pensions in 1998. After spending four years at that department, he spent a further four years as Secretary of State for Transport, while also becoming Secretary of State for Scotland in 2003. Blair moved Darling for a final time in 2006, making him President of the Board of Trade and Secretary of State for Trade and Industry, before new Prime Minister Gordon Brown promoted Darling to replace himself as Chancellor of the Exchequer in 2007, a position he remained in until 2010. He served as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nordic Countries
The Nordic countries (also known as the Nordics or ''Norden''; literal translation, lit. 'the North') are a geographical and cultural region in Northern Europe and the Atlantic Ocean, North Atlantic. It includes the sovereign states of Denmark, Finland, Iceland, Norway and Sweden; the autonomous administrative division, autonomous territories of the Faroe Islands and Greenland; and the autonomous region of Åland. The Nordic countries have much in common in their way of life, History of Scandinavia, history, religion and Nordic model, social structure. They have a long history of political unions and other close relations but do not form a singular entity today. The Scandinavism, Scandinavist movement sought to unite Denmark, Norway and Sweden into one country in the 19th century. With the dissolution of the union between Norway and Sweden (Norwegian independence), the independence of Finland in the early 20th century and the 1944 Icelandic constitutional referendum, this move ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vladimir Putin
Vladimir Vladimirovich Putin; (born 7 October 1952) is a Russian politician and former intelligence officer who holds the office of president of Russia. Putin has served continuously as president or prime minister since 1999: as prime minister from 1999 to 2000 and from 2008 to 2012, and as president from 2000 to 2008 and since 2012. Putin worked as a KGB foreign intelligence officer for 16 years, rising to the rank of lieutenant colonel before resigning in 1991 to begin a political career in Saint Petersburg. He moved to Moscow in 1996 to join the administration of president Boris Yeltsin. He briefly served as director of the Federal Security Service (FSB) and secretary of the Security Council of Russia, before being appointed as prime minister in August 1999. After the resignation of Yeltsin, Putin became Acting President of Russia and, less than four months later, was elected outright to his first term as president. He was reelected in 2004. As he was constitutionall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Russia
The chairman of the government of the Russian Federation, also informally known as the prime minister, is the nominal head of government of Russia. Although the post dates back to 1905, its current form was established on 12 December 1993 following the introduction of a new constitution. Due to the central role of the president of Russia in the political system, the activities of the executive branch (including the prime minister) are significantly influenced by the head of state (for example, it is the president who appoints and dismisses the prime minister and other members of the government; the president may chair the meetings of the cabinet and give obligatory orders to the prime minister and other members of the government; the president may also revoke any act of the government). The use of the term ''prime minister'' is strictly informal and is never used in the constitution. Mikhail Mishustin is the current prime minister. He was appointed on 16 January 2020 after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Interbank Offered Rate
The London Inter-Bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting average rate is usually abbreviated to Libor () or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange LIBOR). It was formerly known as BBA Libor (for British Bankers' Association Libor or the trademark bba libor) before the responsibility for the administration was transferred to Intercontinental Exchange. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, and market participants are being encouraged to transition to risk-free interest rates. As of late 2022, parts of it have been discontinued, and the rest is scheduled to end within 2023; the Secured Overnight Financing Rate (SOFR) is its replacement. Libor rates are calculated for five currenci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basis Point
A basis point (often abbreviated as bp, often pronounced as "bip" or "beep") is one hundredth of 1 percentage point. The related term ''permyriad'' means one hundredth of 1 percent. Changes of interest rates are often stated in basis points. If an interest rate of 10% increased by 1 bp, it changed to 10.01%. Definition :1 basis point (bp) = (a difference of) 1‱ or 0.01% or 0.1‰ or 10−4 or or 0.0001. :10 bp = (a difference of) 0.1% or 1‰ or 10‱. :100 bp = (a difference of) 1% or 10‰ or 100‱. Basis points are used as a convenient unit of measurement in contexts where percentage differences of less than 1% are discussed. The most common example is interest rates, where differences in interest rates of less than 1% per year are usually meaningful to talk about. For example, a difference of 0.10 percentage points is equivalent to a change of 10 basis points (e.g., a 4.67% rate increases by 10 basis points to 4.77%). In other words, an increase of 100 basis points mean ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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