Timeline of the Icelandic financial crisis

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Headquarters of the three banks that collapsed in the autumn of 2008 Iceland financial crisis.jpg
Headquarters of the three banks that collapsed in the autumn of 2008

The following is a timeline of the Icelandic financial crisis which began in earnest in mid September 2008. The combined assets of the three largest Icelandic banks amounted to ten times the country's total gross domestic product (GDP) at the time of their collapse. Two-thirds of the banks liabilities were denominated in a foreign currency. When the world's credit markets dried up, the banks were unable to refinance their loans and the government, as a lender of last resort, was unable to offer backing to the privately owned banks.

Contents

September 2008

October 2008

November 2008

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The 2010 Icelandic loan guarantees referendum, also known as the Icesave referendum, was held in Iceland on 6 March 2010.

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References

  1. "Actions of the government 1–3 October 2008 (in Icelandic)" (Report of the Special Investigation Committee). Icelandic parliament. 30 May 2010. Archived from the original on 13 July 2012. Retrieved 22 November 2011.
  2. "Timeline: Iceland economic crisis". BBC. 2 February 2009. Retrieved 24 November 2011.
  3. "How Iceland's financial crisis unfolded". The Guardian. 26 January 2009. Retrieved 24 November 2011.