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Article: In Iceland, a 2nd bank is seized amid crisis Central bank drops its defense of krona A CRISIS IN FINANCE

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International Herald Tribune
Article date:
October 9, 2008
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Niklas Pollard and Omar Valdimarsson Reuters
International Herald Tribune
10-09-2008
In Iceland, a 2nd bank is seized amid crisis Central bank drops its defense of krona A CRISIS IN FINANCE
Byline: Niklas Pollard and Omar Valdimarsson Reuters
Edition: 4
Section: FINANCE/BUSINESS

STOCKHOLM --

Iceland's fast-moving financial crisis deepened Wednesday as the government seized control of Glitnir, a large bank it had planned to prop up, and as the central bank refused to defend the country's currency further.

Regulators said in a statement that Glitnir's operations in Iceland would be open for business as usual and that domestic deposits were fully guaranteed.
In addition, Kaupthing, the largest ...

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