May 29 – A strong earthquake measuring 6.1 on the Richter scale strikes Iceland near the town of Selfoss.
September
September 29 – The government of Iceland takes control of the country's number three bank, the struggling Glitnir Bank.[1]
October
October 8 – Iceland's Financial Supervisory Authority takes control of troubled Landsbanki Bank.[2]
October 9 – Kaupthing Bank, Iceland's largest bank, is nationalized by the country's Financial Supervisory Authority.
October 21 – Iceland's Kaupthing Bank fails to pay interest to its 50-billion-yen (US$493 million) bondholders in Japan.
October 29 – Danish-based low-cost carrier Sterling Airlines files for bankruptcy and stops all passenger flights after its cash-strapped Icelandic investors were unable keep the company afloat.
November
November 19 – The International Monetary Fund approves a US$2.1 billion rescue package for Iceland following its financial crisis.
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