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2010 Icelandic Loan Guarantees Referendum
The 2010 Icelandic loan guarantees referendum, also known as the Icesave referendum ( Icelandic: ''Þjóðaratkvæðagreiðsla um Icesave''), was held in Iceland on 6 March 2010. The referendum was held to approve the terms of a state guarantee on the obligation of the Depositors' and Investors' Guarantee Fund (''Tryggingarsjóður innstæðueigenda og fjárfesta''), in particular a €3.8 billion loan (€11,964 per person) from the governments of the United Kingdom and the Netherlands to cover deposit insurance obligations in those countries. The referendum was held under article 26 of the Constitution of Iceland after President Ólafur Ragnar Grímsson refused to counter-sign the corresponding Act of Parliament (known as the second ''Icesave bill'') into law on 5 January 2010. The proposal was resoundingly defeated, with 98% voting against and less than 2% in favor. The referendum was the first to be held in Iceland since 1944, and required special legislation. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Icelandic Language
Icelandic (; is, íslenska, link=no ) is a North Germanic language The North Germanic languages make up one of the three branches of the Germanic languages—a sub-family of the Indo-European languages—along with the West Germanic languages and the extinct East Germanic languages. The language group is also ... spoken by about 314,000 people, the vast majority of whom live in Iceland, where it is the national language. Due to being a West Scandinavian languages, West Scandinavian language, it is most closely related to Faroese language, Faroese, western Norwegian dialects, and the extinct language, Norn language, Norn. The language is more Linguistic conservatism, conservative than most other Germanic languages. While most of them have greatly reduced levels of inflection (particularly noun declension), Icelandic retains a four-grammatical case, case synthetic language, synthetic grammar (comparable to German cases, German, though considerably more conservative and syn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ownership Equity
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that developed in England during the Late Middle Ages to meet the growing demands of commercial activity. While the older common law courts dealt with questions of property title, equ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tranche
In structured finance, a tranche is one of a number of related securities offered as part of the same transaction. In the financial sense of the word, each bond is a different slice of the deal's risk. Transaction documentation (see indenture) usually defines the tranches as different "classes" of notes, each identified by letter (e.g., the Class A, Class B, Class C securities) with different bond credit ratings. The term ''tranche'' is used in fields of finance other than structured finance (such as in straight lending, where ''multi-tranche loans'' are commonplace), but the term's use in structured finance may be singled out as particularly important. Use of "tranche" as a verb is limited almost exclusively to this field. The word '' tranche'' means ''a division or portion of a pool or whole'' and is derived from the French for 'slice', 'section', 'series', or 'portion', and is also a cognate of the English 'trench' ('ditch'). How tranching works All the tranches together m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the per capita GDP (also called the Mean Standard of Living). GDP definitions are maintained by a number of national and international economic organizations. The Org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2009 Icelandic Parliamentary Election
Snap parliamentary elections were held in Iceland on 25 April 2009, following strong pressure from the public as a result of the Icelandic financial crisis. The Social Democratic Alliance and the Left-Green Movement, which formed the outgoing coalition government under Prime Minister Jóhanna Sigurðardóttir, both made gains and formed an overall majority of seats in the Althing (Iceland's parliament). The Progressive Party also made gains, and the new Citizens' Movement, formed after the January 2009 protests, gained four seats. The big loser was the Independence Party, which had been in power for 18 years until January 2009: it lost a third of its support and nine seats in the Althing. Background There had been weekly protests in front of the Althing since the collapse of Iceland's three commercial banks in October 2008. These protests intensified with the return of the Althing from Christmas recess on 20 January 2009. Three days later, Prime Minister Geir Haarde of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
France
France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of overseas regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and the North Sea; overseas territories include French Guiana in South America, Saint Pierre and Miquelon in the North Atlantic, the French West Indies, and many islands in Oceania and the Indian Ocean. Due to its several coastal territories, France has the largest exclusive economic zone in the world. France borders Belgium, Luxembourg, Germany, Switzerland, Monaco, Italy, Andorra, and Spain in continental Europe, as well as the Netherlands, Suriname, and Brazil in the Americas via its overseas territories in French Guiana and Saint Martin. Its eighteen integral regions (five of which are overseas) span a combined area of and contain clos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landsbanki Freezing Order 2008
The Landsbanki Freezing Order 2008 (later amended) is an Order of HM Treasury to freeze the assets of Icelandic bank Landsbanki in the United Kingdom made under the Anti-terrorism, Crime and Security Act 2001, by virtue of the fact that the Treasury reasonably believed that "action to the detriment of the United Kingdom's economy (or part of it) has been or is likely to be taken by a person or persons." As required by the enabling Act, the Order was approved by both Houses of Parliament on 28 October 2008, which was 20 days after the Order had come into force. The Order was made after Landsbanki was placed into receivership in Iceland. The bank offered online accounts under the trade name Icesave: some 300,000 depositors in the UK had deposits worth about £4 billion when the bank collapsed. In a memorandum to the Joint Committee on Statutory Instruments, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RÚV
Ríkisútvarpið (RÚV) (pronounced or ) ( en, 'The Icelandic National Broadcasting Service') is Iceland's national public-service broadcasting organization. Operating from studios in the country's capital, Reykjavík, as well as regional centres around the country, the service broadcasts an assortment of general programming to a wide national audience via three radio stations: Rás 1 and Rás 2, also available internationally; Rondó (only available via the Internet and digital radio); and one full-time television channel of the same name. There is also a supplementary, part-time TV channel, RÚV 2, which transmits live coverage of major cultural and sporting events, both domestic and foreign, as required. History RÚV began radio broadcasting in 1930 and its first television transmissions were made in 1966. In both cases coverage quickly reached nearly every household in Iceland. RÚV is funded by a broadcast receiving licence fee collected from every income tax payer, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Davíð Oddsson
Davíð Oddsson (pronounced ; born 17 January 1948) is an Icelandic politician, and the longest-serving prime minister of Iceland, in office from 1991 to 2004. From 2004 to 2005 he served as foreign minister. Previously, he was Mayor of Reykjavík from 1982 to 1991, and he chaired the board of governors of the Central Bank of Iceland from 2005 to 2009. The collapse of Iceland's banking system led to vocal demands for his resignation, both from members of the Icelandic public and from the new Icelandic Prime Minister Jóhanna Sigurðardóttir, which resulted in his being replaced as head of the Central Bank in March 2009. In September 2009 he was hired as the editor of ''Morgunblaðið'', one of Iceland's largest newspapers, a decision that caused nationwide controversy and was followed by resignations and widespread terminated subscriptions. He contested the election for President of Iceland on 25 June 2016 but lost to Guðni Jóhannesson. Biography Early years Davíð Od ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Iceland
The prime minister of Iceland ( is, Forsætisráðherra Íslands) is Iceland's head of government. The prime minister is appointed formally by the president and exercises executive authority along with the cabinet subject to parliamentary support. Constitutional basis The prime minister is appointed by the president under the Constitution of Iceland, Section II Article 17, and chairs the Cabinet of Iceland: : ' : The abinetmeetings shall be presided over by the Minister called upon by the President of the Republic to do so, who is designated Prime Minister. Locations The prime minister's office is located in Stjórnarráðið, Reykjavik, where their secretariat is based and where cabinet meetings are held. The prime minister has a summer residence, Þingvallabær in Þingvellir. The prime minister also has a reception house at Tjarnargata, Reykjavik, which was the prime ministerial residence until 1943. Image:Iceland-Reykjavik-Stjornarrad-1.jpg, Stjórnarráðið in Reykj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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