Iceland, at the epicentre of the past week's financial earthquake, has turned to its Nordic neighbours for help to obtain foreign currency.
The Icelandic central bank on Tuesday (14 October) said it had made use of currency swap agreements with the central banks of Denmark and Norway, withdrawing €200m from each under a deal negotiated in May.
Shares on the Icelandic Stock Exchange lost 76 per cent of its value upon opening on Tuesday after trading was stopped last week.
Ice...
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Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.