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International Global Justice & Anti-Capitalism

As Iceland Reels, Finance Minister Explains Crisis

by NPR (reposted)
Wed, Oct 8, 2008 7:27AM
Wednesday, October 8, 2008 : The global credit crunch is threatening the Icelandic economy. Its financial sector has assets worth 12 times the country's gross domestic product. Finance Minister Arni Mathiesen says a total bankruptcy, which has been predicted, would pull a large portion of society down with it.

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For more information: http://www.npr.org/templates/story/story.p...
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