Posts tagged ‘colapso’

12 January, 2013

Chronology of the aftermath of the Icelandic economic collapse

Cronología de las consecuencias del colapso económico en #Islandia

Chronology of the aftermath of the Icelandic economic collapse

  • May 2008: Scandinavian central banks give 1.5 billions euros to the Icelandic bank Glitnir in difficulty due to the American crisis.
  • Summer 2008: inflation reaches +14.5% in august, the krona is falling -39% since July 2007.
  • 29 September 2008: the government nationalizes Glitnir.
  • 6 October 2008: “Iceland is on the brink of bankruptcy”, said Geir Haarde, Iceland’s prime minister, who argues that emergency laws must come into force and enables the government to take control of the banks if they are in trouble.
  • 7 October 2008: The government takes control of Landsbankinn, the 2nd largest bank of the country. 300 000 icesave accounts are blocked.
  • 8 October 2008: UK government uses the anti-terrorism law against Iceland.
  • 9 October 2008: Kaupthing the largest bank is taken under control and the Icelandic stock exchange stops.
  • 10 October 2008: 2000 people protests in front of Iceland’s central bank to demand the resignation of David Oddsson.
  • 11 October 2008: Hördur Torfason, an icelandic singer, songwriter, organizes a “One man’s protest” on Austurvöllur, the square in front of the parliament. People demand that the government resigns.
  • 14 October 2008: Stock exchange starts again but without the 3 banks that were representing 75% of the activity. Norway provides a loan of 400 millions euros.
  • 17 October 2008: Iceland doesn’t get its non-permanent seat at the security council of the UN. Economic problems and the diplomatic crisis with the UK seem to be the cause of this failure.
  • 18 October 2008: 2000 are protesting in front of the parliament.
  • 24 October 2008: The government asks for the support of the IMF.
  • 25 October 2008: 2000 people march from Austurvöllur to the house of the government. Landsbanki’s flag is burnt in public.
  • 29 October 2008: Faeroe Islands lends 40 millions euros to Iceland.
  • 3 November 2008: Norway lends 500 million euros.
  • 8 November 2008: In front of a crowd of 4000 people gathered in Austurvöllur, a flag of the supermarket chain Bonus representing a pink pig, is hoisted on the parliament’s shaft.
  • 10 November 2008: The IMF delays signing of the Icelandic rescue plan. Some consider that the UK and the Netherlands want to solve the problem with Iceland before the IMF sends the money.
  • 15 November 2008: 8000 people are protesting in Austurvöllur demanding the government to resign.
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