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regulators
by leon on January 25, 2009
One down, how many more to go?
With his country's economy melting, its three biggest banks nationalised and then placed in receivership and public anger rising, Iceland's Prime Minister Geir Haarde has resigned.
Iceland is likely to be hit with a bill that could run to billions of dollars to repay Europeans who held accounts with subsidiaries of collapsed Icelandic banks and public anger had erupted into violent demonstrations. For a good account of these, check this report from Icelandic journalist Iris Erlingsdottir for the Huffington Post.
The question is whether Haarde is the first. How many more political casualties can we expect from this global meltdown?
Permalink: Financial meltdown claims its first casualty
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